JPMorgan raised prediction for China’s GDP growth

American financial holding experts from JPMorgan have decided to revise their prognosis for China’s economic increment in this and next year. The main factor prompted them to take this step was the October economic report for this year, which turned out to be quite strong. While the retail sales data were disappointing, the PRC’s trade balance data was very encouraging. The American bank Analysts have changed their previous prognosis for China’s GDP growth in the fourth quarter, for the whole of 2021 and next year. Disclosed to the updated prognosis, the country will end the last three months of this year with an increase of 4.9%, while their prior prognosis assumed an economic rehabilitation by the end of the quarter by only 4%. This year, they expect the PRC’s GDP to rise by 7.8%, in line with the bank’s previous estimate. According to the updated prognosis, the country’s GDP next year will grow by 4.9%, which is higher than an earlier estimate of 4.7% by analysts.

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Arseny Kudrin

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