Goldman Sachs sees further turbulence ahead for the Chinese economy as the recovery from its stringent Covid measures continue to disappoint.
Goldman Sachs cut its forecasts for China's full-year gross domestic product from 6% to 5.4%.
The latest revision from Goldman Sachs follows the likes of UBS, Bank of America and JPMorgan who have all downgraded their China full-year GDP estimates.In this articleAerial photo shows the traffic flow on a viaduct in Nanjing, East China's Jiangsu Province, June 16, 2023. Goldman Sachs became the latest Wall Street bank to downgrade its growth forecast for China, as the world's second-largest economy stutters and loses momentum after its coronavirus reopening.
The investment bank cut its full-year gross domestic product forecast for 2023 from 6% to 5.4%, noting further turbulence ahead for the economy. The recovery from its stringent Covid-19 lockdown measures continue to disappoint through
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