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Jul 16, 2024 - 07:09
By asia.nikkei.com

Banks trim China's GDP forecasts as its leaders huddle at plenum

SHANGHAI -- Investment banks have downgraded their forecasts for China's economic growth this year after weak second quarter results released on Monday, adding pressure on President Xi Jinping to offer more support at a key Communist Party meeting this week.

China's gross domestic product growth in the April to June quarter slowed to 4.7%, falling below the 5.3% increase in January to March, as well as a consensus forecast for 5.1% growth by 30 economists in a Nikkei poll.