Economists Cut China GDP Forecasts After Disappointing Data
- JPMorgan, UBS, StanChart all trim estimates as recovery slows
- Likelihood of big stimulus is ‘low,’ StanChart economists say
This article is for subscribers only.
China’s weaker-than-expected data for May has spurred economists at several key banks to lower their growth forecasts for the year, with expectations picking up for more policy support in the coming weeks.
JPMorgan Chase & Co., UBS Group AG and Standard Chartered Plc all trimmed their 2023 gross domestic product growth forecasts to 5.5% or lower this week after official figures for retail sales growth and fixed asset investment slowed from April and undershot expectations.