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JP Morgan slashed their China GDP forecast following the ugly data this week

Bloomberg (gated) noted downgraded China economic growth forecasts from analysts following the weak data results. Yesterday we had this:China July Industrial production +3.7% y/y (expected 4.5%) & Retail sales +2.5% (4.8%)The People's Bank of China cut rates yesterday also:ICYMI: China with three rate cuts in one day to try and bolster the economyChina's official GDP target is around 5% (Yes, "around" 5% is the official target).JPMorgan lowered its full-year forecast for 2023 to 4.8%in May the a... Read More

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Ugly

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Posted: Aug 15 2023, 22:14

Author Name: forexlive

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