China Manufacturing Slump May Match That of 2008 Crisis – Bloomberg 06-21-12

Salient to Investors:

Qu Hongbin at HSBC said policy easing has been insufficient to stabilize growth.

Chinese home values fell in a record 54 of 70 cities in May.

New Zealand grew at fastest pace in five years last quarter, almost three times the median estimate in a Bloomberg News poll.

Predictions:

Credit Suisse cut its 2012 growth estimate for China to 7.7 percent from 8 percent, Deutsche Bank  to 7.9 percent from 8.2 percent.

Zhang Zhiwei at Nomura said China’s economy is bottoming out, expects growth of 7.8 percent for Q2 and 8.6 percent for Q3 and 8.9 percent for Q4 2012.

Read the full article at http://www.bloomberg.com/news/2012-06-21/china-manufacturing-slump-may-match-that-of-2008-crisis.html