Nomura Cuts China’s Growth Forecast to 4.6% on ‘Downward Spiral’
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Nomura Holdings Inc. lowered this year’s growth forecast for China to 4.6% after weaker-than-expected data in July and an ongoing “downward spiral” in the economy.
The bank cut its estimate from 5.1% previously, it said in a report on Friday. The growth forecast for next year was maintained at 3.9%.