UBS Cuts China Growth Forecast

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China’s 5% Growth Target Faces Rising Doubt as UBS Cuts Outlook

Summary

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78% Informative

China 's annual growth target looks increasingly out of reach to economists.

UBS Group AG adds to a string of recent forecast cuts as consumer spending slows and government avoids major stimulus.

The Swiss bank now expects China ’s gross domestic product to expand 4.6% this year .

China last missed its growth target in 2022 , when Covid lockdowns and abrupt policy changes put that goal.

A growing chorus of Chinese economists have called on Beijing to raise this year ’s budget deficit to open the door to more central government borrowing to help the economy.

Some expect the People's Bank of China to deliver interest-rates cuts or inject liquidity via a decrease to the amount of cash lenders must keep in reserve in the coming months .

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English

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