(Bloomberg) — China’s disappointing economic growth data prompted several economists to downgrade their forecasts for the year, citing major weaknesses in the recovery and Beijing’s relatively subdued stimulus response. Most read from Bloomberg JPMorgan Chase & Co., Morgan Stanley and Citigroup Inc. were among the banks that cut their economic growth forecasts to 5% this…
BEIJING, June 26 (Reuters) – S&P Global cut its forecast for China’s economic growth this year, highlighting the uneven nature of the country’s reopening recovery, increasing calls for further stimulus. S&P now expects China to deliver GDP growth of 5.2% in 2023, down from a previous estimate of 5.5%. It was the first such cut…
(Bloomberg) — The Chinese yuan’s decline eased, while government bonds rallied as the country reportedly considers more stimulus after a surprise rate cut. Equities posted modest gains. Most read from Bloomberg The offshore yuan offset losses of as much as 0.3% and moved away from the closely watched level of 7.2 per dollar. The yield…