BofA Global Research cuts 2023 China growth forecast after weak May data
BofA Global Research on Friday trimmed its China economic growth forecast for 2023, becoming the second Wall Street bank to revise forecast after the country’s May industrial output and retail sales growth missed forecasts.
Economists led by Helen Qiao said they now expect China’s economy to expand 5.7 percent this year, compared with an earlier estimate of 6.3 percent growth.
ADVERTISEMENT
On Thursday, J.P.Morgan cut its China GDP growth forecast for 2023 by 40 basis points to 5.5 percent.
FEATURED STORIES
BUSINESS
Your subscription could not be saved. Please try again.
Your subscription has been successful.
Read Next
EDITORS' PICK
MOST READ
Don't miss out on the latest news and information. 
Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.
