SHANGHAI—Goldman Sachs has cut China’s economic growth forecast for 2021 to 7.8 percent, from 8.2 percent, as energy shortages and deep industrial output cuts add “significant downside pressures”, it said in a note on Tuesday.
The power supply crunch, brought about by environmental controls, supply constraints, and soaring prices, has forced industries throughout the country to cut production, and left several provinces scrambling to guarantee electricity and heating for residents.
