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China’s Economy at a Glance – November 2023
There was little in this month’s data to change our overall view of China’s economy. Rapid expansion in government bond issuance in recent months should ensure that China meets (and likely exceeds) its growth target for the year, but not address fundamental constraints around household consumption and the real estate sector. Our forecasts for China’s economic growth are unchanged – with 2023 growth at 5.2%, 2024 at 4.5% and 2025 and 4.8%. Growth in China’s industrial production edged up in October, increasing by 4.6% yoy, compared with 4.5% yoy in both August and September. We continue to note that these ... (full story)