Wall Street turns even more bullish on China's economy as the end of zero COVID boosts growth
Wall Street's top banks expect China's economy to shine for the rest of 2023, after the country released an impressive first-quarter gross domestic product headline figure on Tuesday.National Bureau of StatisticsThey all expect the end of Beijing's harsh zero-COVID policies to fuel a rise in consumer spending on goods and services — a key driver of economic growth.
Economists polled by Refinitiv expected the Chinese conomy to expand by 4% in the first quarter – so Tuesday's GDP figure outperformed Wall Street's expectations.
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