World Bank Cuts China’s Growth Estimate To 7.7%

The World Bank on Monday lowered its 2012 growth forecast for China to 7.7% from its estimate in May of 8.2%, citing weakening growth in domestic demand and slowing investment as Beijing implemented austerity measures to cool the real estate market.

The Washington-based organization said monetary policy easing this year along with new stimulus measures “could again reverse this trend in months to come.” The World Bank also lowered its outlook for developing Asia to 7.2% from its May forecast of 7.6%.

Marketwatch