Goldman Boosts China Growth Forecast After Strong Manufacturing Data - Bloomberg

Goldman Sachs Group Inc. raised its outlook for China’s economic growth this year as factory activity accelerates more than expected.

China’s economy likely expanded at a 7.5% annualized pace in the first quarter from the prior three months, Goldman economists led by Hui Shan said in a note Wednesday — higher than their 5.6% prior estimate. The revision lifted the 2024 growth forecast from 4.5% to 5%, in-line with Chinese policymakers’ goal.

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