HONG KONG -- China economists lowered their forecasts for the nation's 2024 gross domestic product in the latest quarterly survey by Nikkei and Nikkei Quick News, underscoring the pressure facing authorities in the country as they fight to stimulate growth.
The average projection by 28 local experts on China's economy points to GDP growth of 4.8% on the year, down from 4.9% in the previous survey compiled in July. Some of the economists submitted or updated their responses after Chinese authorities last week moved to cut interest rates, bolster the property market and pump billions of dollars into the stock market, sending shares soaring. As for those who responded before the stimulus rollout, Nikkei sent inquiries on whether they wished to adjust their forecasts.
