Asian Development Bank (ADB).
China remains a weight on the regional growth outlook as a protracted property crisis and other challenges keep the world's No.2 economy from mounting a strong economic revival
- forecast China would grow 4.8% in 2024 (from 4.5% estimate made in December), down from 5.2% in 2023
- 2025 growth seen 4.5%, "driven by the weak property market and amplified by fading domestic consumption growth after last year's reopening"
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- warned of persistent challenges such as rising geopolitical tensions, including in the Middle East, that could disrupt supply chains and reignite inflation
- "The end of interest-rate hiking cycles in most economies as well as continued recovery in goods exports from an upturn in the semiconductor cycle will support growth"
Info via Reuters.
