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.
