J.P.Morgan cuts China’s 2023 growth forecast after sluggish Q2 GDP growth

(Reuters) – J.P.Morgan trimmed China’s growth forecast for 2023 after the country’s economy grew at a weaker pace in the second quarter with the post-COVID momentum faltering rapidly.

Economists led by Haibin Zhu said on Monday they now expect China’s economy to grow 5% this year against an earlier estimate of 5.5%.

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