Chinese state media report on Goldman Sachs raising its forecast for China economic growth

I posted on the upgrade from GS yesterday, here:

• Goldman Sachs has boosted its China GDP forecast to just below the government target

Xinhua is a Chinese Communist Party state media outlet in China, now reporting the news also. The Politburo will be grateful not everyone is down on the stimuli efforts. GS cited in Xinhua:

“The latest round of China stimulus clearly indicates that policymakers have made a turn on cyclical policy management and increased their focus on the economy”

ICYM, GS forecast 4.9% growth in 2024, up from their previous forecast of 4.7%

• and 4.7% in 2025, previous was 4.3%

The official Chinese government forecast is ‘around 5%’ for 2024.

GS getting close!

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