Goldman Sachs raises China’s GDP forecast to 4.9% in 2024

(Reuters) – Goldman Sachs raised China’s gross domestic product forecast to 4.9% from 4.7% for 2024, according to a research note, citing the government’s latest round of stimulus measures.

The move “clearly indicates that policymakers have made a turn on cyclical policy management and increased their focus on the economy,” said Goldman Sachs in a research note to clients on Sunday.