IMF upgrades China’s 2024, 2025 GDP growth forecasts after ‘strong’ Q1

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China Economy News

China Growth,Imf

BEIJING, May 29 — China’s economy is set to grow 5 per cent this year, after a “strong” first quarter, the International Monetary Fund said on Wednesday, upgrading its...

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The IMF said it had revised up both its 2024 and 2025 GDP targets by 0.4 percentage points but warned that growth in China would slow to 3.3 per cent by 2029 due to an ageing population and slower expansion in productivity. China’s economy grew at a faster than expected 5.3 per cent pace year-on-year in the first quarter, comfortably above analysts’ forecast for a 4.6 per cent gain in a Reuters poll and up from a 5.2 per cent expansion in the previous quarter.A string of recent economic indicators for April including factory output, trade and consumer prices suggest the US$18.

 

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