UBS Cuts China Growth Forecasts
2011-08-25 15:37:11
UBS lowered its growth forecast for Chinese economy this year and the next, reports said Thursday citing a statement from the bank.
The growth forecast for 2011 was cut to 9 percent from the previously predicted 9.3 percent. The outlook for 2012 was downgraded to 8.3 percent from the earlier prediction of 9 percent.
The report said that weaker growth prospects in developed economies are likely to dampen growth in Chinese exports.