Morgan Stanley and Goldman Sachs foresee slower global economic growth

Top international investment banks Morgan Stanley and Goldman Sachs have both revised downward their predictions for the global GDP growth rate.
 
Morgan Stanley has revised its expected global GDP growth rate in 2011 from 4.2 percent to 3.9 percent, while reducing its expectation for 2012 from 4.5 percent to 3.8 percent.
 
Meanwhile, Goldman Sachs revised its global GDP growth rate prediction for 2011 from 4.1 percent to 4.0 percent, while cutting its prediction for 2012 from 4.6 percent to 4.4 percent.