Fitch cuts its 2024 China growth forecast to 4.5%. from 4.6%.
Analysts at the Agency say that China’s property collapse continues unabated:
- housing sales now look likely to fall sharply again this year
and more broadly:
- evidence of deflationary pressures is rising
Fitch do point out a positive, saying that fiscal easing is being stepped up materially. Tha analysts say this boost has cushioned the impact on the GDP forecast.
