Wall Street Economists Are Hacking Their China Growth Forecasts

Earlier today, China released a slew of weaker-than expected February economic data. Growth in industrial production (+8.6%), retail sales (+11.8%), and fixed asset investment (+17.9) all disappointed. This comes on top of Saturday's stunning trade report that showed China's exports plunged by 18.1%. Seeing enough, Wall Street's economists have begun slashing their forecasts for GDP growth. Bank of America Merrill Lynch's Ting Lu just lowered his full-year GDP growth forecast to 7.2% from 7.6%. ...