Via JPM on what they expect for China:
- we downgraded our China GDP forecast again
- now look for 2Q GDP to contract ‒5.4% (previously ‒1.5%)
- our 2Q global growth forecast stands at just 0.6% (easily the weakest quarter since the GFC outside of 2020)
GDP is a measure of economic growth. A negative GDP is a contraction in the economy. This is very bad news for employment (and other indicators also).
Actually that sounds rather cold, bad news on employment has terrible impacts on many people's lives.
