China's breakout from its economic slump may also mean less government support ahead, BofA said.
BofA doesn't expect a "a full-blown growth rebound" as real estate woes and weak demand are still a problem.
AdvertisementBank of America boosted its forecast for China's economic growth in 2024 on the heels of a surprisingly strong first-quarter performance from the world's second-largest economy.
AdvertisementWith a robust first quarter dataset in hand, policymakers may be less inclined to intensify easing measures, dashing hopes for imminent policy support, according to the bank.
The analysts wrote that they anticipate a gradual growth deceleration through the rest of 2024 as policy support wanes.
Persons:
BofA, —, Helen Qiao, wasn't
Organizations:
of America, Service, Bank of America, FAI
Locations:
China