Goldman Sachs says its chopped ... OK, "Revised down"
- we revise down our Q3 real GDP forecast by 3.5pp to 2.3% qoq ar (vs. 5.8% previously)."
That is a substantial chop revision. For the full year:
- lowered to 8.3% (from 8.6%)
GS see a bounce in Q4 though:
- 8.5% q/q (previous projection was 5.8%) - GS citing an expected removal of restrictions and stimulatory fiscal and monetary policy to remain in place - see faster issuing of local govt bonds to fund spending and further RRR cut