China's economy could recover faster and earlier than expected, analysts say
Publishing timestamp: 2023-01-17 05:11:20
Summary
China's economy grew 3% in 2022, the second-lowest rate since 1976, but quarterly and monthly economic data exceeded expectations. Citi economists said that markets and policymakers are looking through the readings as the reopening is happening faster and earlier than expected. JPMorgan's global market strategist said that there will be sustained economic recovery in 2023 due to reopening and policy stimulus. S&P Global Market Intelligence's senior economist said that mobilities, passenger flight counts, and private consumption have seen gradual recovery. The government is increasing its pro-growth stance and economic recovery is entering 2023, reducing the likelihood of pandemic-policy reversal.
Sentiment: POSITIVE
Tickers: CNY=,
Keywords: us dollar/chinese renminbi fx spot rate, business news, asia economy, china, economic events,
Source: https://www.cnbc.com/2023/01/17/chinas-earlier-reopening-means-earlier-recovery.html