S&P Global cut its forecast for China’s economic growth this year
DATA MACRO VIEWS & ANALYSIS
S&P Global cut its forecast for China’s economic growth this year
DATA MACRO VIEWS & ANALYSIS

S&P Global cut its forecast for China’s economic growth this year

 

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Rating agency S&P Global now expects China’s GDP growth to reach 5.2% in 2023, down from an earlier estimate of 5.5%.

“China’s key downside growth risk is that its recovery loses more steam amid weak confidence among consumers and in the housing market,” S&P said in a statement.

S&P said likely measures to bolster the economy could include “easing housing purchasing restrictions and mortgage down-payment requirements, expanding credit and infrastructure financing and, perhaps, fiscal support for consumption.”