Goldman Sachs Group Inc. economists lowered their forecast for Chinese economic growth after data showed a slowdown in April, joining banks including JPMorgan Chase & Co. and UBS AG in paring outlooks.
Taiwan’s dollar will climb 4.8 percent against the U.S. currency in a year as the central bank allows appreciation, while gains in other Asian currencies are less assured, according to Goldman Sachs Group Inc.
China’s home prices fell in a record number of cities last month and car dealers posted inventory levels that foreshadowed deeper price cuts, adding to signs of slowing growth in the world’s second-largest economy.
Japan is likely to see a rebound in the second half of this year after a blow that will be determined by the magnitude of electricity disruptions caused by the earthquake and tsunami, a survey of economists showed.
China pared the nation’s economic growth target to 7.5 percent from an 8 percent goal in place since 2005, a signal that leaders are determined to cut reliance on exports and capital spending in favor of consumption.
China’s economic growth will withstand a slowdown in the nation’s property market because households borrowed less to purchase their homes than in developed nations, according to Goldman Sachs Group Inc.
Federal Reserve Chairman Ben S. Bernanke said the economy is barely expanding at a sustainable pace and that it’s possible the Fed may expand bond purchases beyond the $600 billion announced last month to spur growth.