World Bank keeps China 2023 GDP growth forecast but cuts 2024 outlook

BEIJING, Oct 2 (Reuters) – The World Bank has maintained its forecast for China’s 2023 economic growth at 5.1%, in line with its previous estimate in April, but trimmed its prediction for 2024 to 4.4% from 4.8%, citing the persistent weakness of its property sector. For East Asia and the Pacific including China, the bank slightly trimmed its 2023 gross domestic product growth forecast to 5.0% from its prior 5.1% estimate, the World Bank said in its semi-annual regional update released on Sunday. Cranes in front of the skyline of the Central Business District in Beijing. REUTERS/Thomas Peter For 2024,…