Citi cuts its China GDP forecast for 2023 to 5.5%, from 6.1%

Reuters conveying the headline that Citi cuts its China 2023 GDP GDP Gross Domestic Product (GDP) is the monetary value of all the goods and services produced within a country's borders in a specific period of time, typically a year. It is used to measure the economic activity and growth of a country. Periods shorter than a year are often presented in an annualized or year-over-year format.There are three ways to calculate GDP:The expenditure approach: GDP is calculated by adding up all the spending on goods and services within a country. This includes consumer s Gross Domestic Product (GDP) is the monetary value of all the goods and services produced within a country's borders in a specific period of time, typically a year. It is used to measure the economic activity and growth of a country. Periods shorter than a year are often presented in an annualized or year-over-year format.There are three ways to calculate GDP:The expenditure approach: GDP is calculated by adding up all the spending on goods and services within a country. This includes consumer s Read this Term growth forecast to 5.5% from 6.1%.

To further details at this stage.

There have loads of similar downgrades to China economic growth projections:

• More from Goldman Sachs - reasons for slashing their China growth forecast

• ICYMI - Nomura slashes its forecast for China's 2023 GDP growth to 5.1% from 5.5%
• UBS revised down its China 2023 GDP growth forecast to 5.2%, from 5.7% previously---

Earlier from China today:

• PBOC Loan Prime Rates (LPR) CUT: 1-year 3.55% (prior 3.65%) & 5 year 4.20% (prior 4.30%)