U.S. Bank of America said in a research report that China's economic growth forecast this year has been reduced from 5%to 4.8%, and it has been said that China's growth momentum has lost motivation in recent months.
According to Reuters, Bank of America also predicts the GDP growth forecast of 2025 and 2026, from the previous 4.7%to 4.5%.
According to Bloomberg, after several Chinese top consumer companies released a weak financial report in August, UBS reduced the forecast of China's economic growth from 4.9%to 4.6%last Wednesday (August 29).The forecast next year is reduced from 4.6%to 4%.
UBS is the third international investment bank that has recently lowered China's economic growth expectations.Morgan Chase previously reduced China's annual growth forecast to 4.6%, and Nomura lowered to 4.5%.
Wang Tao, chief Chinese economist in UBS, pointed out that the Chinese property market has not yet bottomed out. The weakening of real estate activities has a greater dragging on the overall economy than the original expectations.Economic contribution.
Chinese officials set the annual economic growth target at about 5%earlier this year.
