Banks Slash China Growth Forecasts, With JPMorgan Seeing 4.8%
- Economists see rising risks of China missing growth target
- China poised for weakest growth trend since Mao Zedong era
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For the second straight month, a slew of disappointing economic data from China spurred investment banks around the world to cut their 2023 growth outlook.
The wave of downgrades highlights the danger of the world’s second-biggest economy missing its official target of around 5% expansion for this year, without more concerted policy actions. The latest reductions by private-sector economists followed an announcement of interest-rate cuts by the central bank.