Economists have cut their forecasts for China’s economic growth in 2023 to 5.1%, according to a Bloomberg poll, which is lower than the previous forecast of 5.2% and closer to the government’s forecast of 5%.
This reduction in growth forecasts is partly due to the lower growth forecasts for the third quarter, where economists ‘ forecasts now indicate growth of 4.4%, down from the previous forecast of 4.6%.
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 reduced their forecasts for the main indicators, as they expect consumer prices to rise by only 0.7% in 2023, down from the previous forecast of 0.9%.
The Consumer Price Index fell in July for the first time since February 2021.
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