Citi boost 2023 China growth forecast well above 5%: economy has hit its cyclical trough ...Middle East

Citi has published a note from global chief economist Nathan Sheets. Its wide-ranging but I have pulled out comments on China (the full piece is here if you are interested in more).In brief:The forecast for China’s 2023 growth has been boosted from 4.7% to 5.3%2024 forecast unchanged at 4.6%notes early signs that the Chinese economy has reached a cyclical trough, with consumer spending looking like it’s climbing back and those consumers likely having ample savings to support a further cyclical bounceactions taken by the People’s Bank of China have helped put a floor under the ailing property sector as well as providing more general support But ... China’s deeper structural challenges, which

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