An economist at ANZ says that while China is showing ‘early signs’ of economic stabilization it’s still too early to tell if the economy will secure a full
recovery by the end of the year.
- in terms of economic
momentum we are seeing some early signs
of some sort of stabilization - we have recently revised up our 2023
GDP growth forecast to 5.1% from
4.9%
On China’s property sector:
- recent
policy from
demand side easings have exceeded our
previous expectations - it creates some
genuine demand at least in the upcoming
traditional sales seasons in late
September early October - that should
help to restore part of the market
sentiment - but from the longer term
perspective it doesn’t mean that you
know the structural issues existing in
China’s property sector have been
addressed yet specifically