Economics
China’s Economy Will Resume Growth This Quarter, Economists Say
- Gross domestic product seen expanding 1.5% in second quarter
- China Beige Book by contrast says economy set for recession
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Economists upgraded their forecasts for China’s economic growth this quarter and for 2020, signaling more optimism that the country is on track for a gradual recovery.
Gross domestic product will expand at 1.5% in the second quarter from a year earlier, according to the median estimate of economists in a Bloomberg survey last week. That’s faster than 1.2% growth seen in the last survey in May. Economists also dialed up their full-year growth projection to 1.8% from 1.7%.