Brokerages raise China GDP growth estimates for 2024
Oct 22 (Reuters) -China's economy grew 4.6% in July-September, official data showed, its slowest pace since early 2023 and below the 4.7% pace in the second quarter, as a tumbling property sector remained a major challenge for Beijing.
Authorities in the world's second-largest economy have sharply ramped up policy stimulus since late-September to revive the flagging economy and ensure growth will reach the government's target of around 5% this year.
Here are some brokerages' forecasts for China's 2024 growth after the Q3 GDP data:
Brokerage | Real GDP growth forecast (Y/Y) | |
New | Old | |
J.P.Morgan | 4.8% | 4.6% |
Nomura | 4.7% | 4.6% |
UBS Global Research | 4.8% | 4.6% |
Compiled by the Broker Research team in Bengaluru; Editing by Varun H K
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