Posted 1/15/2024, 7:17:00 AM
China Growth Forecast Slows Further, Putting Pressure on Stimulus Efforts
- China's economic growth expected to slow to 4.6% in 2024 and 4.5% in 2025, putting pressure on policymakers to provide more stimulus
- GDP growth for 2023 forecast at 5.2%, meeting the government's target
- Economy struggling with property crisis, weak confidence, local debt, and global headwinds
- Central bank pledged more support in 2023 but faces dilemma as credit flows more to production over consumption
- Government likely to continue fiscal spending to drive growth; consumer inflation seen rising to 1.0% in 2024 and 1.6% in 2025