Economic Indicators

Goldman Sachs lowers China 2024 growth forecast to 4.9%

07/15/2024

Less than a minute

2024.07.15 03:00

© Reuters. FILE PHOTO: A worker works on a building under construction in Beijing's Central Business District (CBD), China July 14, 2024. REUTERS/Tingshu Wang/File photo

(Reuters) – Goldman Sachs on Monday lowered its forecast for China’s 2024 gross domestic product to 4.9% from 5.0% on the back of data showing that the country’s economy slowed in the second quarter.

“To counteract weak domestic demand, we believe more policy easing is necessary through the remainder of this year, especially on the fiscal and housing fronts,” said Goldman Sachs economists, led by Lisheng Wang.

07/15/2024

Less than a minute

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