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GDP forecasts by Goldman, JPMorgan, Citi, Stanchart

Workers labor in a factory of bathing suits in Jinjiang in southeast China’s Fujian province Tuesday, Sept. 28, 2021.

Feature China | Barcroft Media | Getty Images

BEIJING — Ahead of China’s quarterly growth numbers due out on Monday, most major investment banks have trimmed their economic predictions for the year and warned that abrupt power cuts and a property market slump may drag down growth.

CNBC tracked estimates for China’s full-year GDP from 13 major banks, 10 of which have cut their forecasts since August. The median prediction is growth of 8.2% this year, following the latest cuts. That’s down 0.3 percentage points from the prior median forecast.

Of the firms CNBC tracked, Japanese investment bank Nomura has the lowest full-year forecast for China at 7.7%. Southeast Asia’s largest bank, DBS, has the highest at 8.8%.

Here are banks’ forecasts for the full year:

Banks that cut China’s GDP forecast

August

  • ANZ: Cut to 8.3%, from 8.8%
  • Morgan Stanley: Cut to 7.9%, from 8.2%

September

October

  • Standard Chartered: Cut to 8.2%, from 8.8%
  • JPMorgan: Cut to 8.3% from 8.7%

Banks that didn’t change China forecast

  • Credit Suisse: 8.2%.
  • DBS: 8.8%.
  • UBS: 8.2%.

China’s economic landscape



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Source: https://www.cnbc.com/2021/10/15/china-economy-gdp-forecasts-by-goldman-jpmorgan-citi-stanchart.html

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