Softening real estate market undercuts GDP growth picture

Analysts pare forecasts amid downturn in housing sector

Foreign investment banks are trimming forecasts for China's GDP growth this year and next, in part because of unexpected weakness in the property market, although most analysts said the risks remain manageable.

UBS AG on Monday lowered its 2014 and 2015 forecasts to 7.3 percent (from 7.5 percent) and 6.8 percent (from 7 percent).