(Beijing Comprehensive News) China has continued to die in the second quarter, and its market confidence has declined. Many investment banks have recently lowered China's economic growth rate forecast this year.
According to Reuters and the Hong Kong Economic Daily, in a recent recent report released by UBS, China ’s economic growth rate is predicted from 5.7%to 5.2%.The report also reduced the forecast value of next year's economic growth rate from 5.2%to 5%.
In addition to UBS, Nomura Securities, Standard Chartered Bank, Bank of America, and Morgan Chase have recently predicted China's economic growth forecast this year from 5.5%to 6.3%to 5.1%to 5.7%.Among them, the decline in Bank of America was the most significant, from 6.3%to 5.7%, and 0.6 percentage points were repaired.
The data released by the National Bureau of Statistics of China last Thursday (June 15) shows that in May, the key economic indicators of China have weakened, and industrial output and retail sales growth is lower than expected.
UBS pointed out in a report that the main reason why the bank lowered the forecast of China's economic growth rate was the weakening of the real estate market rebound and the kinetic energy of consumption recovery.
UBS chief Chinese economist Wang Tao said that due to the fading effect of the base period, the growth rate of various economic data in May this year has slowed down, and it has not improved significantly since June this year. ThereforePrevious expectations were lower.
In a report,
In a report, China ’s exports may slow down in the short term, resulting in a moderate shrinkage of exports throughout the year.
Bank of America predicts that China will release a more relaxed new policy in the short term to support the consumer market. Although it is difficult to reverse the slowdown of economic growth, it can prevent a significant decline.
