Asia Development Bank raises China growth forecast for 2024 to 4.8% (from 4.5%)

Asian Development
Bank (ADB).

China remains a weight on the regional growth outlook as a
protracted property crisis and other challenges keep the world’s
No.2 economy from mounting a strong economic revival

• forecast China would grow 4.8% in 2024 (from 4.5% estimate made in December), down from 5.2% in 2023
• 2025 growth seen 4.5%, “driven by the weak property
  market and amplified by fading domestic consumption growth after
  last year’s reopening”

More:

• warned of
  persistent challenges such as rising geopolitical tensions,
  including in the Middle East, that could disrupt supply chains
  and reignite inflation
• “The end of interest-rate hiking cycles in most economies as
  well as continued recovery in goods exports from an upturn in
  the semiconductor cycle will support growth”

Info via Reuters.

This article was written by Eamonn Sheridan at www.forexlive.com.