Goldman Sachs and Citigroup Revise China's Economic Growth Projections
Sunday, 15 September 2024, 22:43
Revised GDP Forecasts for China
Goldman Sachs and Citigroup have lowered their forecasts for China's economic growth to 4.7% for the year. This revision comes as industrial output showed significant weakness, especially in August, leading to concerns over future retail sales.
Impact of Fiscal Policy and Stimulus
- The banks pointed to the government’s stimulus efforts and demand-side measures aimed at boosting economic activity.
- Despite attempts at support, the economic landscape remains challenging.
- Analysts have highlighted the implications for GDP forecasts as fiscal policy shifts focus.
Market Reactions
As a result, investors are closely monitoring updates in industrial output and retail sales figures, which are crucial for understanding the overall economic trajectory.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.