Goldman Sachs, Citigroup cut China's 2024 growth forecast to 4.7%


Panaromic view of the Bund in Shanghai.— Bernama

Goldman Sachs and Citigroup have lowered their full-year projections for China's economic growth to 4.7%, after the world's second-largest economy's industrial output slowed to a five-month low in August.

Weak economic activity in August has ramped up attention on China's slow economic recovery and highlighted the need for further stimulus measures to shore up demand.

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