Sept 16 Reuters Goldman Sachs and Citigroup have lowered their fullyear projections for China39;s economic growth to 4.7, after the world39;s secondlargest economy39;s industrial output slowed to a fivemonth low in August.

Weak economic activity in August has ramped up attention on China39;s slow economic recovery and highlighted the need for further stimulus measures to shore up demand.

The faltering growth has prompted global brokerages to scale back their 2024 projections to below government39;s target of around 5.

Goldman Sachs earlier expected fullyear growth for the economy at 4.9, while Citigroup had forecast growth at 4.8.

China39;s industrial output in August expanded 4.5 yearonyear, slowing from the 5.1 pace in July and marking the slowest growth since March, data from the National Bureau of Statistics NBS showed on Saturday.

Retail sales a key gauge of consumption rose 2.1 in August, decelerating from a 2.7 increase in July amid extreme weather and a summer travel peak. Analysts had expected retail sales, which have been anemic all year, to grow 2.5.

We believe the risk that China will miss the 39;around 539; fullyear GDP growth target is on the rise, and thus the urgency for more demandside easing measures is also increasing, Goldman Sachs said in a note dated Sept. 15.

It maintained the country39;s 2025 GDP growth forecast at 4.3.

However, Citigroup on Sunday trimmed its 2025 yearend forecast for China39;s GDP growth to 4.2 from 4.5 due to a lack…