Economists cut their forecasts for China’s economic growth in 2023 to 5.1%, according to a Bloomberg survey, which is lower than the previous forecast of 5.2% and closer to the government’s forecast of 5%.
This reduction in growth expectations is partly due to the decrease in growth expectations for the third quarter, as economists’ expectations now indicate a growth of 4.4%, down from the previous forecast of 4.6%.
China’s Gudong Telecom raises $150 million from a sovereign fund in the Middle East
China’s economic growth is expected to slow to 4.5% in 2024, down from a previous forecast of 4.8% growth.
Economists surveyed by Bloomberg also trimmed their forecasts for major indicators, expecting consumer prices to rise by just 0.7% in 2023, down from a previous forecast of 0.9%.
The consumer price index fell in July for the first time since February 2021.
