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Goldman Sachs has cut its forecast for China GDP (economic growth) in Q3

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Goldman Sachs says its chopped … OK, “Revised down” 

  • we revise down our Q3 real GDP forecast by 3.5pp to 2.3% qoq ar (vs. 5.8%
    previously).”

That is a substantial chop revision. For the full year:

  • lowered to 8.3% (from 8.6%)

GS see a bounce in Q4 though:

  • 8.5% q/q (previous projection was 5.8%) – GS citing an expected removal of restrictions and stimulatory fiscal and monetary policy to remain in place –  see faster issuing of local govt bonds to fund spending and further RRR cut 

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