Goldman Sachs have taken a knife to their China GDP forecasts: 5.4% for 2023 (6.0% prior)

I posted a couple of these earlier"

• ICYMI - Nomura slashes its forecast for China's 2023 GDP growth to 5.1% from 5.5%
• UBS revised down its China 2023 GDP growth forecast to 5.2%, from 5.7% previously

Goldman Sachs Goldman Sachs Goldman Sachs is a multinational investment bank and financial services company headquartered in New York City. It was founded in 1869 and is one of the largest and most well-known investment banks in the world.Goldman Sachs has a mixed reputation. On one hand, it is known for its expertise in investment banking and its role in many high-profile financial deals. On the other hand, it has faced criticism and controversy over the years, including accusations of unethical business practices and con Goldman Sachs is a multinational investment bank and financial services company headquartered in New York City. It was founded in 1869 and is one of the largest and most well-known investment banks in the world.Goldman Sachs has a mixed reputation. On one hand, it is known for its expertise in investment banking and its role in many high-profile financial deals. On the other hand, it has faced criticism and controversy over the years, including accusations of unethical business practices and con Read this Term have jumped on board:

• China GDP GDP Gross Domestic Product (GDP) is the monetary value of all the goods and services produced within a country's borders in a specific period of time, typically a year. It is used to measure the economic activity and growth of a country. Periods shorter than a year are often presented in an annualized or year-over-year format.There are three ways to calculate GDP:The expenditure approach: GDP is calculated by adding up all the spending on goods and services within a country. This includes consumer s Gross Domestic Product (GDP) is the monetary value of all the goods and services produced within a country's borders in a specific period of time, typically a year. It is used to measure the economic activity and growth of a country. Periods shorter than a year are often presented in an annualized or year-over-year format.There are three ways to calculate GDP:The expenditure approach: GDP is calculated by adding up all the spending on goods and services within a country. This includes consumer s Read this Term growth target for 2023 cut to 5.4%, from 6.0%
• 2024 now targeted at 4.5%, from 4.6% previously

Goldman Sachs argue that the stimulus seen is insufficient to fire up a powerful enough impulse for growth.

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Note that there is more stimulus in the pipeline:

• China’s State Council considering various macroeconomic policies to boost demand

But we may not get the announcement for a few more weeks yet. Sizeable fiscal support may have to wait until the Politburo meeting in July is the call from a number of prominent analysts. I'm not so sure, I've seen some info suggesting that substantial fiscal measures could be announced sooner by the State Council.