China’s economy will grow 5% this year, Fitch Ratings says in upgraded forecast
2023-02-09 09:15:07 source：CNBC
February 8, 2023
China’s economy will expand by 5% in 2023, Fitch Ratings said in a revised forecast on Wednesday – an improved outlook from its previous 4.1% growth prediction made in December.
The latest revision is based on “evidence that consumption and activity are recovering faster than initially anticipated” after China’s government removed most of its stringent Covid restrictions, signaling a move away from its Covid-zero policy.
Fitch also pointed to China’s latest purchasing managers’ index (PMI) for manufacturing and services, a measure of business activity, that indicated further growth.
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