Comment & Analysis
China: Politburo drops GDP target and decrees stability in H2 2022
GDP growth bottomed in Q2 and should recover around 5.0% y/y in H2 2022. The July Politburo meeting confirmed this, stressing “stability” and dropping the 5.5% GDP growth target. We maintain our forecast for 2022 unchanged at 3.7%. Key takeaways Although consumption and manufacturing rebounded in June, the slump in…
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