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Banks slash China economic growth forecasts
Global investment banks are reducing China’s economic growth forecasts after weak data for the second consecutive month that raised concerns about the world's second-largest economy missing its official target of 5% expansion for the year. The latest cuts followed the central bank's announcement of interest-rate cuts and strains in the country's real estate market after giant developer Country Garden's missed a bond coupon payment.
Global investment banks are reducing China’s economic growth forecasts after weak data for the second consecutive month that raised concerns about the world's second-largest economy missing its official target of 5% expansion for the year. The latest cuts followed the central bank's announcement of interest-rate cuts and strains in the country's real estate market after giant developer Country Garden's missed a bond coupon payment. 
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