Swiss bank UBS downgraded China's growth forecasts to 4.6% for 2024 and 4% for 2025 due to property market slump.

Swiss bank UBS downgraded China's growth forecasts to 4.6% for 2024 (from 4.9%) and 4% for 2025 (from 4.6%) due to a deeper-than-expected property market slump, expecting weaker property activities to have a larger negative impact on the economy. The bank predicts a bottoming out of new property starts in mid-2026.

August 28, 2024
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