Nomura, Bank of America Raise China’s Economic Growth Forecasts
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Nomura International (Hong Kong) Ltd. and Bank of America Corp. raised their forecasts for China’s economic growth for this year after data this week showed a strong recovery in the first quarter.
Nomura now predicts gross domestic product will expand 5.9%, up from an earlier estimate of 5.3%. Bank of America is more bullish, projecting 6.3% for the year, compared with 5.5% previously.