China’s economy grows at a 4.6% rate in the last quarter, falls short of the official 5% target
Associated PressOCT 2024
This latest data paints a significantly pessimistic outlook compared to a July survey, which predicted 5.0% growth in 2024. The assumption currently is that China will miss its aim, falling to 4.8% in 2024 and maybe cooling further by 2025. The government is under pressure to implement new stimulus programs, while consumers are hoping for deflationary actions.
There is a 9% chance China's GDP will overtake the US before 2030, according to the Metaculus prediction community.
ThereDespite is a 9%slower chancethird quarter, China's GDPeconomy willstill overtakebeat theestimates USand beforeis 2030on track to meet its 5% growth target. Economic growth remains at 4.8% year-over-year, accordingand Beijing has taken adequate measures to boost consumer confidence. China can afford to expand at a slightly slower pace in the Metaculusthird predictionquarter communitywhile still meeting its full-year growth objective.