Goldman Sachs Upgrades China Growth Forecasts on Latest Stimulus
- Flurry of efforts signals increased focus on economy: Goldman
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Goldman Sachs Group Inc. upgraded its forecasts for China’s economic growth in 2024 and 2025 after Beijing unveiled a series of measures to shore up growth, including plans for greater public spending announced over the weekend.
The bank expects China’s gross domestic product to expand 4.9% this year, up from 4.7% previously. It also lifted its growth prediction for next year to 4.7% from 4.3%, according to a report dated Sunday.