Wall Street investment banks cut China forecasts

LONDON : Wall Street banks Goldman Sachs, JPMorgan and Morgan Stanley all cut their China growth forecasts on Monday after the country reported lower than expected import and export numbers and on concerns that the resurgent coronavirus would crimp economic activity.

JPMorgan reduced its quarter-on-quarter growth estimate for the third quarter to 2.0per cent from 4.3per cent and trimmed its full-year forecast to 8.9per cent from 9.1per cent. Morgan Stanley lowered its quarterly growth forecast to 1.6per cent from while Goldman cut its estimate to 2.3per cent from 5.8per cent and to 8.3per cent versus 8.6per cent for the full year.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Indonesia launches online push to streamline investment permitsJAKARTA : Indonesia launched on Monday a website to process investment permits, which the government hailed as an important milestone in reforms aimed at making it easier and quicker to do business in Southeast Asia's largest economy.President Joko Widodo has vowed to overcome lingering hurdles such as re
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Thailand's investment pledges more than double in H1 -BOIBANGKOK : Thailand's investment applications in the first half of this year rose 158per cent from a year earlier to 386 billion baht (US$11.5 billion), led by the electronics and medical sectors, the country's investment agency said on Monday.Foreign direct investment (FDI) projects had a combined applica
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »