Firms lower China 2024 growth forecast after softer data earlier

Goldman Sachs and JP Morgan cut their growth outlook for China for the year

This comes after the miss on Q2 numbers earlier today here.

Goldman Sachs is cutting their 2024 GDP forecast for China to 4.9%, down from 5.0% previously. Meanwhile, JP Morgan slashed their estimate to 4.7% compared to 5.2% previously. On the revision, JP Morgan continues to argue that the Chinese economy remains "fragile, unstable and uneven".