CHINA's economy is likely to expand 4.8 per cent in 2024, undershooting the government's target, and growth could cool further to 4.5 per cent in 2025, a Reuters poll showed.
This maintains the pressure on policymakers as they consider more stimulus measures. Gross domestic product is forecast to have risen 4.5 per cent in the third quarter from a year earlier, slowing from 4.7 per cent in the second quarter and hitting the weakest since the first quarter of 2023, according to the poll conducted between September 27 and October 15.
Authorities have sharply ramped up policy stimulus since late September in a bid to revive the flagging economy and ensure growth will reach the government's target of five per cent this year.
'The main pressure is from the consumption side, which is linked to deflationary pressures,' said Xing Zhaopeng, ANZ's china strategist. Mr Xing expects economic activity to improve in the fourth quarter as a raft of stimulus measures kick in, but still maintains his 2024 growth forecast at 4.9 per cent.
SeaNews Turkey
This maintains the pressure on policymakers as they consider more stimulus measures. Gross domestic product is forecast to have risen 4.5 per cent in the third quarter from a year earlier, slowing from 4.7 per cent in the second quarter and hitting the weakest since the first quarter of 2023, according to the poll conducted between September 27 and October 15.
Authorities have sharply ramped up policy stimulus since late September in a bid to revive the flagging economy and ensure growth will reach the government's target of five per cent this year.
'The main pressure is from the consumption side, which is linked to deflationary pressures,' said Xing Zhaopeng, ANZ's china strategist. Mr Xing expects economic activity to improve in the fourth quarter as a raft of stimulus measures kick in, but still maintains his 2024 growth forecast at 4.9 per cent.
SeaNews Turkey
