JPMorgan reduced its quarter-on-quarter growth estimate for the third quarter to two from 4.3 per cent and trimmed its full-year forecast to 8.9 per cent from 9.1 per cent.
Morgan Stanley lowered its quarterly growth forecast to 1.6 per cent from while Goldman cut its estimate to 2.3 per cent from 5.8 per cent and to 8.3 per cent versus 8.6 per cent for the full year.
China's factory inflation surged again in July, following a short-lived retreat in the previous month, as commodity prices remained high despite the government's steps to rein in costs, reported Bloomberg.
The producer price index grew nine per cent in July from a year earlier, the National Bureau of Statistics said Monday, quickening from 8.8 per cent in the previous month and beating the median forecast of an 8.8 per cent gain.
Consumer prices rose one per cent in July, easing for a second month but remaining above the median estimate of 0.8 per cent.