This comes after the miss on Q2 numbers earlier today here.
Goldman Sachs is cutting their 2024 GDP forecast for China to 4.9%, down from 5.0% previously. Meanwhile, JP Morgan slashed their estimate to 4.7% compared to 5.2% previously. On the revision, JP Morgan continues to argue that the Chinese economy remains “fragile, unstable and uneven”.
This article was written by Justin Low at www.forexlive.com.
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