Morgan Stanley Lifts China GDP Forecast on Reopening, Easing
- Economy seen growing 5.4% in 2023 as activity recovers
- Supply chain risks likely to be manageable, economists say
Morgan Stanley expect a continued recovery to above pre-pandemic levels through the rest of 2023.
Source: Bloomberg
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Morgan Stanley economists upgraded their forecast for China’s gross domestic product growth in 2023 on expectations that the rapid reopening from Covid Zero and continued steps to ease policy will boost the economy.
The bank raised its projection to 5.4% growth from 5%, expecting that mobility and economic activity will rebound to the levels seen in June and July of this year by the end of the first quarter, economists including Robin Xing wrote in a Tuesday note. They expect a continued recovery to above pre-pandemic levels through the rest of 2023.