Fitch wary on China – says property collapse is continuing “unabated”

Fitch cuts its 2024 China growth forecast to 4.5%. from 4.6%.

Analysts at the Agency say that China’s property collapse continues unabated:

• housing sales now look likely to fall sharply again this year

and more broadly:

• evidence of deflationary pressures is rising

Fitch do point out a positive, saying that fiscal easing is being stepped up materially. Tha analysts say this boost has cushioned the impact on the GDP forecast.

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