0441 GMT - Goldman Sachs cuts its 2025 economic growth view for Asia, excluding Japan, by 20 bps to 4.5%. Its strategists see China's real GDP growth falling to 4.5% from 4.9% expected this year--10 bps lower than estimated earlier. They cite expected U.S. tariffs offsetting policy support, and the yuan's weakening. GS economists have trimmed most forecasts for regional economies by 10 bps except for a few Asean countries. Elsewhere, they expect Japan to swing to 1.2% growth next year as it recovers from the 1Q auto-related shock. GS sees U.S. growth easing to 2.5% from 2.7% and the euro area growing just 0.8%, unchanged from the expected figure for 2024. Global growth should be solid at 2.7% next year, but likely tariffs on China and possibly other Asian nations threaten regional growth. (fabiana.negrinochoa@wsj.com)
(END) Dow Jones Newswires
November 17, 2024 23:43 ET (04:43 GMT)
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