Bofit study projects continued slowdown in China
Group’s latest forecast says economy needs to be rebalanced in favour of consumption
China’s economic slowdown is set to continue over the next two years, according to the latest forecast from the Bank of Finland Institute for Emerging Economies (Bofit).
The study projects growth of 4% this year, 3.5% next year and 3% in 2026. This follows China’s official year-on-year growth figures of 5.3% in the first quarter of 2024, 4.7% in Q2 and 4.6% in Q3.
Bofit attributes the slowdown to a range of structural issues. Foremost among these is a lack of demand in an economy that has been
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