<p>S&P Global said it has cut its 2023 GDP growth forecast for China after May data showed a post-Covid recovery was faltering in the world's second-largest economy.</p>.<p>"We have reduced our 2023 GDP growth forecast to 5.2 per cent, from 5.5 per cent," it said in a research note on Sunday.</p>.<p><strong>Also Read: <a href="https://www.deccanherald.com/business/business-news/fo-expiry-us-gdp-data-to-guide-dalal-street-1231173.html" target="_blank">F&O expiry, US GDP data to guide Dalal Street</a></strong></p>.<p>"China's recovery should continue but at an uneven pace, with investment and industry lagging."</p>.<p>S&P is the first major international credit agency to cut its forecasts for China's economy this year, although several major banks including Goldman Sachs have lowered their estimates this month.</p>.<p>Goldman Sachs reduced its forecast from 6 per cent to 5.4 per cent, citing persistently weak confidence and the cloud over the property market as stronger-than-expected headwinds.</p>.<p>China's economy stumbled in May with property investment slumping further, industrial output and retail sales growth missing forecasts, adding to expectations that Beijing will need to do more to shore up a shaky post-pandemic recovery.</p>.<p>China will roll out more stimulus to support a slowing economy this year, sources involved in policy discussions have said.</p>
<p>S&P Global said it has cut its 2023 GDP growth forecast for China after May data showed a post-Covid recovery was faltering in the world's second-largest economy.</p>.<p>"We have reduced our 2023 GDP growth forecast to 5.2 per cent, from 5.5 per cent," it said in a research note on Sunday.</p>.<p><strong>Also Read: <a href="https://www.deccanherald.com/business/business-news/fo-expiry-us-gdp-data-to-guide-dalal-street-1231173.html" target="_blank">F&O expiry, US GDP data to guide Dalal Street</a></strong></p>.<p>"China's recovery should continue but at an uneven pace, with investment and industry lagging."</p>.<p>S&P is the first major international credit agency to cut its forecasts for China's economy this year, although several major banks including Goldman Sachs have lowered their estimates this month.</p>.<p>Goldman Sachs reduced its forecast from 6 per cent to 5.4 per cent, citing persistently weak confidence and the cloud over the property market as stronger-than-expected headwinds.</p>.<p>China's economy stumbled in May with property investment slumping further, industrial output and retail sales growth missing forecasts, adding to expectations that Beijing will need to do more to shore up a shaky post-pandemic recovery.</p>.<p>China will roll out more stimulus to support a slowing economy this year, sources involved in policy discussions have said.</p>