Well, this is ominous – China is back to square one. No one is currently betting on stronger growth in China in the next 12 months – bringing the country back when it was in lockdown. Also, the US has been importing more from Mexico than from China for the first time in 30 years. At least the Atlanta Fed GDPNow is currently forecasting 5.6% GDP growth for the US in 3Q23 …

#china #chinaeconomy #lockdown #gdp #gdpgrowth #expectations

Chart from Bank of America H/t Mike Z.
Inflection Point Tom Baldacci www.inflectionpoint.blog