REUTERS/Thomas Peter/File photo Acquire Licensing RightsOct 18 (Reuters) - JP Morgan, Citigroup and Nomura on Wednesday lifted their forecast for China's economic growth for the year following upbeat data, but highlighted the need for more stimulus.
Citigroup now expects China's GDP to grow 5.3% in 2023 from 5% earlier, while JP Morgan and Nomura see it at 5.2% and 5.1%, respectively.
JP Morgan expects the economic momentum to persist in the coming months.
Since the 5% growth target looks achievable, policy space could be saved for next year, Zheng said.
JP Morgan expects China's potential growth coming down faster than initially expected in 2024 and 2025 to a range of 4%-4.5% and 3.5%-4%, respectively.
Persons:
Thomas Peter, JP Morgan, Nomura, Goldman Sachs, Haibin Zhu, Morgan Stanley, Jenny Zheng, Zheng, Albee Zhang, Susan Mathew, Christian Schmollinger, Eileen Soreng
Organizations:
REUTERS, Citigroup, Nomura, Thomson
Locations:
Beijing, China