China’s GDP forecast revised down sharply to 2.3% QoQ in Q3 – Goldman Sachs
|Analysts at Goldman Sachs made a sharp downward revision to China’s Q3 GDP growth forecast, although predict a bounce in the final quarter of this year.
Key quotes
“We revise down our Q3 real GDP forecast by 3.5pp to 2.3% QoQ vs. 5.8% previously."
“For the full year, GDP forecast lowered to 8.3% vs. 8.6% previous.”
“See a bounce in Q4 though, with 8.5% QoQ vs. previous projection was 5.8%, citing an expected removal of restrictions and stimulatory fiscal and monetary policy to remain in place.”
“See faster issuing of local govt bonds to fund spending and further RRR cut.”
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