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Fitch raises China's GDP forecast to 5.6 percent for 2023
Fitch Ratings recently raised China's 2023 GDP forecast from 5.2 percent to 5.6 percent after a swifter-than-expected reopening rebound in the first quarter. "China's reopening rebound was a lot stronger in the first quarter than we had anticipated," said Brian Coulton, chief economist with Fitch Ratings, in the June Global Economic Outlook, a report released by the credit rating agency earlier this month. China's GDP expanded by 4.5 percent year-on-year in the first quarter, compared to an estimated 2.8 percent in a previous report issued by Fitch Ratings in March. Consumption, property sales and exports all ... (full story)