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在线翻译:
szdaily -> Business -> 
Economists raise growth forecasts
    2023-01-20  08:53    Shenzhen Daily

ECONOMISTS raised their economic growth forecasts for China into next year after the nation dropped its COVID restrictions faster than expected, ushering in a recovery, and following a resilient performance toward the end of 2022.

The world’s second-largest economy is now forecast to expand 5.1% in 2023 and 5% next year, according to the median estimate in a Bloomberg survey of economists.

The projections were higher than 4.8% and 4.9%, respectively, in last month’s poll.

China’s ending of its three year-long Covid Zero policy last month and the peaking of infections in many places over the past few weeks have fueled optimism that the costs of reopening would be restricted to a period of holidays when activity is slow traditionally.

Consumption is widely expected to rebound after infection waves ebb and be a key driver of growth.

Main economic indicators published by the government earlier this week for December and the fourth quarter last year beat analysts’ estimates, prompting major banks such as Goldman Sachs Group Inc. and Societe Generale SA to boost their 2023 growth forecasts.

“The rapid reopening has raised hopes of an economic boost, especially on private consumption, but there is transitional pain to be endured at least in the first quarter,” said Bernard Aw, chief economist for Asia Pacific at Coface.

Economists expect growth in the current quarter to soften to 2.5%, down from their previous prediction of 3.1%, before picking up to 6.8% in the April-June period. (SD-Agencies)

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