China’s Economy Will Grow 2.5% This Year, UBS Says

China’s economy will grow 2.5% this year according to UBS Group AG, which raised its forecast from 1.5% due to the recovery in domestic consumption and strong investment.

The economy will expand 5.5% this quarter from a year earlier, and 6% in the final three months of 2020, the bank said in a new report from Chief China Economist Wang Tao and others. The biggest downside risk to that rebound would be a resurgence of the coronavirus outbreak at home and abroad, they wrote.