JPMorgan nudges up China 2023 economic growth forecast again

LONDON (Reuters) – Investment bank JPMorgan has nudged up its 2023 growth forecast for China for the second time in a matter of weeks on Wednesday, following the government’s moves to ease COVID-19 restrictions.

The bank’s analysts said that while an estimated 40% jump in infections will have impacted China’s growth in the fourth quarter of 2022, the overall profile of the post-reopening recovery phase had shifted forward by around three months.

“The earlier recovery storyline leads to an upward revision to our 2023 full-year growth forecast to 4.4% (previously: 4.3%),” they said in a note to clients.

(Reporting by Marc Jones, editing by Karin Strohecker)