Reported 8 months ago
Fitch Ratings has revised its forecast for China's economy growth in 2024 to 4.8% due to a recovering export industry, with expectations of increased government spending to boost private sector income. The global economic growth forecast for 2024 has also been raised to 2.8% from 2.4%, but is expected to slow to 2.4% in 2025. Despite challenges such as the property market crisis and weak consumer demand, China's official loosening of fiscal policies and export rebound are seen as favorable for this year's economic growth, with a projected slowdown to 4.5% in 2025.
Source: YAHOO