Upbeat economic outlook issued for China ...News

S&P Global Ratings forecasts 5.5% GDP growth this year China’s economy will grow this year, exceeding Beijing’s official projections and supporting wider Asia-Pacific expansion, S&P Global Ratings said in its outlook, which was issued on Sunday. The agency forecasts a “largely organic recovery” in the world’s second-largest economy in 2023, led by consumption and services. “Our growth forecast of 5.5% exceeds the country’s modest target of ‘around 5%.’ In our view, Beijing set that target at a relatively unambitious level to provide room for policy to respond to inflation or financial risks, if needed,” S&P stated

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