Apr 12, 2024 05:19 AM

ECONOMY

Goldman, Morgan Stanley Boost China’s 2024 Growth Outlook

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China’s economy probably expanded at a 7.5% annualized pace in the first quarter from the previous three months, Goldman economists said

China’s economy probably expanded at a 7.5% annualized pace in the first quarter from the previous three months, Goldman economists said

(Bloomberg) — Goldman Sachs Group Inc. and Morgan Stanley raised their outlook for China’s economic growth this year as factory activity and exports accelerate more quickly than expected.

China’s economy probably expanded at a 7.5% annualized pace in the first quarter from the previous three months, Goldman economists led by Hui Shan said in a note Wednesday — higher than their 5.6% previous estimate. The bank now sees 2024 growth forecast at 5%, in line with Chinese policymakers’ target, rather than the 4.8% previously quoted.

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