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Exports and Fiscal Easing to Prop Up China’s Growth
Fitch Ratings is set to maintain its growth forecast for China in 2024 at 4.8%, despite recent official data pointing to sustained domestic demand struggles in investment and consumption, with real GDP growth slowing to 4.7% in 2Q24, from 5.3% in 1Q24. The country’s property downturn continues to raise challenges for the economic outlook, and in our mid-year update, the Chinese property developer sector outlook in 2024 remained ‘deteriorating’. However, we revised our forecast for economic growth in 2024 to 4.8% in June, from 4.5% previously, reflecting the effects of rebounding exports and expected fiscal ... (full story)
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- Posted: Aug 1, 2024 2:02am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 2,654
