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G Sachs Trims CN 2025 Econ Growth Forecast to 4%, Expects 60 bp Rate Cut for Whole Yr
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Goldman Sachs has released a report lowering its forecast for China's economic growth for 2025 to 4% and for 2026 to 3.5%, compared to the previous forecasts of 4.5% and 4% respectively. The adjustments were mainly to reflect US President Donald Trump's decision to raise tariffs on goods imported from China from 104% to 125%. Although the additional tariff hike may have a weakening marginal impact, the substantial increase in US tariffs on China will greatly affect the Chinese economy and labor market, according to the report. It is expected that the Chinese government will further expand its easing measures to address this impact, and that the policy rate will be reduced by 60 bps, compared to the previous forecast of 40 bps. However, the easing measures are unlikely to fully offset the negative impact of the tariffs. AAStocks Financial News |
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