J.P.Morgan cuts China’s full year growth forecast after poor May data

(Reuters) – J.P.Morgan trimmed China’s economic growth forecast for 2023 after the country’s May industrial output and retail sales growth missed forecasts.

Economists led by Haibin Zhu said on Thursday they now expect China’s economy to grow 5.5% this year against an earlier estimate of 5.9% growth.

(Reporting by Aniruddha Ghosh in Bengaluru; Editing by Nivedita Bhattacharjee)

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