Factbox-Brokerages raise China GDP growth estimates for 2024

(Reuters) – China’s economy grew 4.6% in July-September, official data showed, its slowest pace since early 2023 and below the 4.7% pace in the second quarter, as a tumbling property sector remained a major challenge for Beijing.

Authorities in the world’s second-largest economy have sharply ramped up policy stimulus since late-September to revive the flagging economy and ensure growth will reach the government’s target of around 5% this year.

Here are some brokerages’ forecasts for China’s 2024 growth after the Q3 GDP data:

Brokerage Real GDP growth forecast

(Y/Y)

New Old

J.P.Morgan

4.8% 4.6%

Nomura

4.7% 4.6%

UBS Global Research

4.8% 4.6%

(Compiled by the Broker Research team in Bengaluru; Editing by Varun H K)