JPMorgan nudges up China 2023 economic growth forecast again

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JPMorgan nudges up China 2023 economic growth forecast again
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LONDON : Investment bank JPMorgan has nudged up its 2023 growth forecast for China for the second time in a matter of weeks on Wednesday, following the government's moves to ease COVID-19 restrictions.The bank's analysts said that while an estimated 40 per cent jump in infections will have impacted China'

LONDON : Investment bank JPMorgan has nudged up its 2023 growth forecast for China for the second time in a matter of weeks on Wednesday, following the government's moves to ease COVID-19 restrictions.

The bank's analysts said that while an estimated 40 per cent jump in infections will have impacted China's growth in the fourth quarter of 2022, the overall profile of the post-reopening recovery phase had shifted forward by around three months. "The earlier recovery storyline leads to an upward revision to our 2023 full-year growth forecast to 4.4 per cent ," they said in a note to clients.

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