Goldman Sachs raises China's GDP forecast to 4.9% in 2024
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FILE PHOTO: A worker works on a building under construction in Beijing's Central Business District (CBD), China July 14, 2024. REUTERS/Tingshu Wang/File Photo
(Reuters) - Goldman Sachs raised China's gross domestic product forecast to 4.9% from 4.7% for 2024, according to a research note, citing the government's latest round of stimulus measures.
The move "clearly indicates that policymakers have made a turn on cyclical policy management and increased their focus on the economy," said Goldman Sachs in a research note to clients on Sunday.
(Reporting by Beijing newsroom; Editing by Tom Hogue)
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