Morgan Stanley's economics team led by Joachim Fels just raised its estimate for 2012 global GDP growth to 3.7 percent from 3.5 percent.
The primary reason for this was a huge upward revision in their China GDP estimate.
From their note to clients:
In China, where our previous above-consensus forecast of 8.4% 2012 GDP growth had become (published) consensus in recent months, we raise our forecast to 9.0%,
