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HSBC cuts China’s GDP forecast to 5.3% on weak property, business outlook

The global bank now forecasts China’s gross domestic product (GDP) to grow at 5.3% in 2023, from 6.3% expected earlier.

Last week, brokerages including J.P. Morgan and BofA Global Research lowered the country’s growth outlook after the country’s May industrial output and retail sales growth missed forecasts.


Source: Economy - investing.com

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