FX

Goldman cuts China 2021 GDP projections to 7.8%

Goldman Sachs (GS) follows the general market tone while triming 2021 GDP growth forecasts for China.

The US bank recently revised down the growth projections to 7.8% versus 8.2% prior. Details suggest that the Q3 2021 GDP forecast is slashed to 0.0% QoQ.

“We revise down our Q3 real GDP forecast by 3.5pp to 2.3% QoQ vs. 5.8% previously,” said GS in August.

Given the Evergrande fears challenging the market sentiment and China’s GDP outlook, commodities and Antipodeans may fail to cheer the econmic recovery hopes from the West.

Read: AUD/USD grinds higher around 0.7300, Aussie Retail Sales eyed

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