BEIJING : Four major Western banks have cut their 2023 gross domestic product (GDP) growth forecasts for China after May data showed a post-COVID recovery was faltering in the world's second-largest economy.UBS, Standard Chartered, Bank of America (BoA) and JPMorgan now expect China's GDP growth to be bet
BEIJING : Four major Western banks have cut their 2023 gross domestic product growth forecasts for China after May data showed a post-COVID recovery was faltering in the world's second-largest economy.
The government has set a modest GDP growth target of around 5 per cent for this year after badly missing its 2022 goal. Economists at Standard Chartered lowered their 2023 growth forecast to 5.4 per cent from 5.8 per cent previously.
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