Bank of America Lowers China's Growth Forecast

Bank of America recently reduced its forecast for China's economic growth to 4.8% for 2024 and 4.5% for both 2025 and 2026. The bank cited a loss of momentum in recent months as the reason for the lower projections.

Bank of America has updated its outlook on China's economic growth, reducing the forecast for 2024 from 5% to 4.8%, highlighting a recent loss of momentum.

Additionally, the bank trimmed its GDP growth estimates for China to 4.5% for both 2025 and 2026, down from the previous 4.7% projection.

The adjustments reflect concerns over the country's economic slowing in recent months.

(With inputs from agencies.)