0628 GMT - China's October activity data point to a gradual improvement in growth momentum, especially on consumption, Goldman Sachs economists say. Retail sales beat market expectations, while industrial production and fixed-asset investment data slightly missed, they say. Surveyed unemployment rates edged down in October from September, GS adds. That backs its view that sequential GDP growth may accelerate from 3Q to 4Q. That said, given the potential hit from U.S. tariffs under Trump, GS recently cut its 2025 GDP growth forecast for China to 4.5% from 4.7%. It expects continued policy easing in 2025 but believes demand-side measures--especially on the fiscal and property fronts--hold the key to the effectiveness of stimulus. (fabiana.negrinochoa@wsj.com)
(END) Dow Jones Newswires
November 15, 2024 01:29 ET (06:29 GMT)
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