Goldman Sachs raises 2024 China growth forecast to 5% due to stronger manufacturing data.
Goldman Sachs increased its 2024 growth forecast for China to 5% from 4.5%, aligning with Chinese policymakers' goal. The boost is due to stronger-than-expected manufacturing data, showing accelerated factory activity. Despite China's economy still struggling with weak property and consumer sectors, recent data points to growth in factory activity and trade, with forecasts predicting a 5% year-on-year expansion in Q1 2023.
April 10, 2024
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