Goldman Sachs has lowered China's full-year economic growth forecast from 4.6 percent to 4.5 percent, reflecting weaker-than-expected economic activity so far this quarter.
The bank expected China's gross domestic product to rise 4.4 percent year-on-year in the third and fourth quarters, down from its previous estimates of 4.6 percent.
It also revised China's 2027 full-year GDP growth from 4.7 percent to 4.6 percent.
Goldman Sachs noted that the August readings showed a continued imbalance between strong industrial production and sluggish domestic consumption in the world's second-largest economy.
The intensified Middle East conflict, ongoing property market weakness, and delayed policy easing are expected to drag down short-term economic growth, the bank said.
Recent signals from the government have raised expectations that more stimulus measures will be rolled out if growth slows further and the full-year growth target of 4.5 to 5 percent comes under pressure, it added.
