{"id":210172,"date":"2024-07-31T09:53:30","date_gmt":"2024-07-31T09:53:30","guid":{"rendered":"https:\/\/businesnewswire.com\/?p=47606"},"modified":"2024-07-31T09:53:30","modified_gmt":"2024-07-31T09:53:30","slug":"abbo-news-exclusive-goldman-and-jpmorgan-lower-china-growth-outlook","status":"publish","type":"post","link":"https:\/\/ipsnews.net\/business\/2024\/07\/31\/abbo-news-exclusive-goldman-and-jpmorgan-lower-china-growth-outlook\/","title":{"rendered":"ABBO News Exclusive: Goldman and JPMorgan Lower China Growth Outlook"},"content":{"rendered":"

\"\"<\/p>\n

ABBO News, a leading source for financial insights, reports that two central US banks have lowered their growth estimates for China in 2024. This comes after new data showed slower growth in the world\u2019s second-largest economy.<\/p>\n

Goldman Sachs and JPMorgan, based in New York, have reduced their forecasts for China\u2019s economic growth this year. This move follows the release of official data showing China\u2019s economy grew by 4.7% in the second quarter of 2024. This growth rate was lower than expected and the slowest since early 2023.<\/p>\n

Goldman Sachs cut its estimate for China\u2019s 2024 gross domestic product (GDP) growth from 5.0% to 4.9%. JPMorgan made a more significant cut, lowering its forecast from 5.2% to 4.7%.<\/p>\n

ABBO News analysts point out that these changes reflect growing concerns about China\u2019s economic health. The slower growth in the April-June period missed the 5.1% forecast many experts had predicted.<\/p>\n

\u201cChina\u2019s economy is facing some challenges,\u201d said Li Wei, ABBO News Senior Economic Analyst. \u201cThe numbers we\u2019re seeing suggest domestic demand is weaker than hoped. This could have ripple effects across global markets.\u201d<\/p>\n

Goldman Sachs economists, led by Lisheng Wang, believe more support is needed for China\u2019s economy. They stated, \u201cTo counteract weak domestic demand, we believe more policy easing is necessary through the remainder of this year, especially on the fiscal and housing fronts.\u201d<\/p>\n

JPMorgan\u2019s team described China\u2019s economic activity as \u201cfragile, unstable, and uneven\u201d based on the latest data.<\/p>\n

ABBO News experts note that these revisions from central banks could influence investor sentiment towards China and emerging markets in general. They suggest keeping a close eye on policy moves from Beijing in the coming months.<\/p>\n

\u201cWe might see Chinese officials take steps to boost growth,\u201d Wei added. \u201cThis could include measures to support the housing market or increase government spending. How effective these will be remains to be seen.\u201d<\/p>\n

ABBO News will continue to monitor this situation closely. They remind their readers that economic forecasts can change as new data becomes available. For the latest updates and expert analysis on global economic trends, stay tuned to ABBO News.<\/p>\n

About ABBO News<\/strong><\/h2>\n

ABBO News<\/a> is a trusted source for timely and insightful financial news and analysis. Our experienced journalists and market analysts tirelessly bring you up-to-the-minute updates on stocks, market trends, and economic developments. With ABBO News, you stay ahead in the fast-paced world of finance.<\/p>\n

For more information, visit ABBO News!<\/p>\n","protected":false},"excerpt":{"rendered":"

ABBO News, a leading source for financial insights, reports that two central US banks have lowered their growth estimates for China in 2024. 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