ANZ forecast China's 2022 GDP at 3%, well below the official target of around 5.5%

ANZ on China outlook:

• Unless the economy revives strongly in September, our monthly tracker predicts that GDP growth will likely dip below 3.0% in Q3
• We now expect China’s full-year GDP growth at 3.0% in 2022

ANZ graph on the PMIs published earlier today:

Data is here:

• China August Manufacturing PMI 49.4 (exp 49.2) & Non-manufacturing 52.6 (exp 52.2)