ICYMI – Nomura slashed their China GDP forecast for 2023 to 4.6% (from 5.1%)

<p>Nomura revised its economic growth forecast for China this year to 4.6% from its previous projection at 5.1%</p><ul><li>Citing weak data for July (<a href="https://www.forexlive.com/news/china-july-industrial-production-37-yy-expected-45-retail-sales-25-48-20230815/" target="_blank" rel="follow">out last week</a>) and warning of a an ongoing “downward spiral” in the economy.
</li><li>their growth forecast for 2024 remained unchanged at 3.9%</li><li>
“In coming months, growth will face further pressure as the post-pandemic pent-up demand for travel runs its course”</li></ul><p>Earlier:</p><ul><li><a href="https://www.forexlive.com/news/morgan-stanley-cuts-china-2023-gdp-growth-forecast-to-47-from-50-20230817/" target="_blank" rel="follow" data-article-link="true">Morgan Stanley cuts China 2023 GDP growth forecast to 4.7% (from 5.0%)</a></li><li><a href="https://www.forexlive.com/news/barclays-slashed-their-china-gdp-forecast-to-45-prior-49-20230817/" target="_blank" rel="follow" data-article-link="true">Barclays slashed their China GDP forecast to 4.5% (prior 4.9%)</a></li><li><a href="https://www.forexlive.com/news/jp-morgan-slashed-their-china-gdp-forecast-following-the-ugly-data-this-week-20230815/" target="_blank" rel="follow" data-article-link="true">JP Morgan slashed their China GDP forecast following the ugly data this week</a></li></ul><p>Later today we'll be getting a rate cut from the People's Bank of China:</p><ul><li><a href="https://www.forexlive.com/centralbank/economic-calendar-in-asia-peoples-bank-of-china-rate-decision-due-20230820/" target="_blank" rel="follow" data-article-link="true">Economic calendar in Asia – People's Bank of China rate decision due</a></li></ul><p>After bank execs spent the weekend haranguing the locals:</p><ul><li><a href="https://www.forexlive.com/centralbank/weekend-the-pboc-met-with-bank-executives-and-told-lenders-again-to-boost-loans-20230820/" target="_blank" rel="follow" data-article-link="true">Weekend – the PBOC met with bank executives and told lenders, again, to boost loans</a></li></ul><p>Another week of this coming up!</p>

This article was written by Eamonn Sheridan at www.forexlive.com.