Investing.com - Financial Markets Worldwide
🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Morgan Stanley cuts China's 2023 and 2024 growth forecasts

Published 07/17/2023, 07:12 AM
Updated 07/17/2023, 07:21 AM
© Reuters. FILE PHOTO: People walk at a street in Beijing's Central Business District (CBD), during the morning rush hour following the Chinese Lunar New Year holiday, in Beijing, China, January 30, 2023. REUTERS/Tingshu Wang
MS
-

LONDON (Reuters) - Morgan Stanley (NYSE:MS) revised down its China 2023 economic growth forecast by 0.7 percentage points to 5% on Monday after the country reported a "weak" second quarter GDP reading.

Adding that government was also being slow to provide stimulus, Morgan Stanley's analysts said: "Market scepticism on China's growth outlook is on the rise".

© Reuters. FILE PHOTO: People ride bikes and scooters on a street at Beijing's Central Business District, in Beijing, China June 21, 2023. REUTERS/Tingshu Wang

The bank also trimmed its 2024 GDP forecast by 40 basis point, to 4.5%, which it said implied "a return to China's post-Covid potential growth trend".

(This story has been refiled to remove an incorrect picture)

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.