Nomura note issued Friday, says the firm has cut its forecast for China's 2023 GDP growth to 5.1% from 5.5%:
- in view of the worsening downward spiral of major activity data and Beijing's tepid response to date, we lower our GDP growth and inflation forecasts
- expect China to introduce a raft of supportive measures to follow the rate cuts
The cut comes as China's economic growth has faltered, losing steam after an initial bounce out of COVID.
