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JPMorgan raises China Q4 and 2022 GDP forecast -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – An electronic display displaying the China GDP Indexes can be seen in Shanghai on October 18, 2021. REUTERS/Aly Song

LONDON (Reuters), JPMorgan (NYSE ) increased its outlook for full-year 2022 China GDP in the fourth quarter on Wednesday after November data confirmed some positive trends.

According to the bank, fourth-quarter growth is now at 4.9% quarter on quarter. This compares to 4.0% in its previous forecast. However, it kept unchanged its full-year 2021 predictions at 7.8%. The bank increased its full-year outlook for next year and now expects 4.9% annual growth, up from 4.7%.

In a note to clients, Haibin Zhu, JPMorgan, stated that November’s economic activity data was mixed. He noted that there had been a surprise in trade, but disappointment in retail sales. Fixed investment and IP were close to our expectations.

We have moderately revised our forecast for 4Q GDP growth by combining the November activity data and the solid October figures.

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