China economists expect slower 4.6% growth in 2024

Specialists think the country will achieve this year's target of around 5%

Customers shop at a Beijing wholesale market in September. Economists expect weak consumption to weigh on China's economy in 2024. © Reuters

PEGGY YE, Nikkei staff writer

December 26, 2023 16:00 JST

HONG KONG -- Experts expect China's economic growth will slow in the coming year to 4.6%, following a predicted 5.2% expansion this year, amid a slump in the real estate market and stagnant consumption.

The average forecast by 25 China specialists for 2023 gross domestic product rose by 0.2 percentage points from the previous quarter in the latest survey conducted by Nikkei, Nikkei Asia and Nikkei Quick News.