Goldman Sachs slashes China's growth forecast amid property market woes.
TL;DR Summary
Goldman Sachs has lowered its forecast for China's economic growth due to weak confidence and a slowdown in the property market. The bank lowered its full-year GDP growth forecast from 6% to 5.4% and its 2024 growth forecast from 4.6% to 4.5%. China's post-pandemic recovery has faltered, and policymakers are constrained in delivering meaningful stimulus. China's government has set a modest GDP growth target of about 5% for this year after badly missing its 2022 goal.
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- Goldman Sachs have taken a knife to their China GDP forecasts: 5.4% for 2023 (6.0% prior) ForexLive
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