BoA has cut its forecast for European economc growth, citing slower China economy

I posted yesterday on Bank of America jumping on the less enthusiastic China economy train, analysts at BoA joining plenty of others in announcing downgrades:

• Bank of America lowered their 2023 China GDP forecast to 5.1% from 5.7% previously

BoA analysts cited soft data from China during the second quarter of this year for the cut. And also say that a slower China will eat into Euro area growth due to the exposure to China. BoA cut their Euro area GDP forecast for 2023 to 0.3% from the previous 0.4%. FOr 2024 their GDP growth projection was also cut, to 0.7% from 0.8% previously.