China Growth Forecasts Cut Into Next Year Despite Likely Support
- Economists trim 2023 GDP forecast to 5.2% in Bloomberg poll
- Survey shows divided outlook for US-China economic risks
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China’s economic outlook is deteriorating into next year, with no clear consensus from analysts that the business environment will improve despite Beijing’s push to restore confidence and its efforts to foster US ties.
That’s the takeaway from a new Bloomberg survey of economists, who downgraded their growth projections for 2023 to 5.2% from an earlier median estimate of 5.5%. Gross domestic product is seen expanding 4.8% in 2024, slightly below an earlier median expectation of 4.9%.