China growth seen slowing to 4.6% in 2024, raising heat on policymakers [Reuters]
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Source: Reuters
C.bank seen cutting benchmark lending rate by 10 bps in Q1 BEIJING, Jan 15 (Reuters) - China's economic growth is likely to slow to 4.6% in 2024, and cool further to 4.5% in 2025, a Reuters poll showed, raising the heat on policymakers to roll out more stimulus measures amid deflationary pressures and a severe property slump. Gross domestic product (GDP) likely grew 5.2% in 2023 - meeting the government's annual growth target, partly helped by the previous year's low-base effect which was marked by COVID-19 lockdowns, according to the median forecasts of 58 economists polled by Reuters. But the world's second-largest economy has struggled to mount a strong and sustainable post-COVID pandemic bounce, burdened by the protracted property crisis, weak consumer and business confidence, mounting local government debts, and weak global growth. Recent data suggested the economy was starting 2024 on shaky footing, with persistent deflationary pressures and a slight pick-up in exports
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