BEIJING (Reuters) - The World Bank has maintained its forecast for China's 2023 economic growth at 5.1%, in line with its previous estimate in April, ...
Church Brewing: where the customers are the congregation and the choir | SaltWireBEIJING - The World Bank has maintained its forecast for China's 2023 economic growth at 5.1%, in line with its previous estimate in April, but trimmed its prediction for 2024 to 4.4% from 4.8%, citing the persistent weakness of its property sector.
For 2024, the bank lowered its regional outlook to 4.5% growth from 4.8%, dragged down by external factors including a sluggish global economy, high interest rates and trade protectionism. For China, the bounce back from the reopening of the economy following three years of ultra-stringent zero-COVID policies has faded, and elevated debt and weakness in its property sector are weighing on growth, the World Bank said in the report.
China's factory activity expanded for the first time in six months in September, an official survey showed on Saturday.
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