Roundup: May’s Disappointing Data Dent China’s Growth Prospects

Some analysts have revised down their China growth forecasts as a slew of official data for May have added to evidence of a faltering economic recovery characterized by record youth unemployment, shrinking private sector investment and a property slump.

In a Thursday report, UBS Investment Bank AG economists, led by chief China economist Wang Tao, lowered their forecast for China’s GDP growth this year to 5.2% from 5.7%, citing falling exports, anemic industrial production and a recovery in consumption that has been losing steam. They also cut their GDP growth forecast for next year to 5% from 5.2%.