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SHANGHAI, CHINA - FEBRUARY 24: A woman crosses a pedestrian crossing in wet weather in the Shanghai's financial district (Lujiazui) on February 24, 2018 in Shanghai, China.
SHANGHAI, CHINA - FEBRUARY 24: A woman crosses a pedestrian crossing in wet weather in the Shanghai's financial district (Lujiazui) on February 24, 2018 in Shanghai, China.

Vincent Isore/IP3

  • Bank of America upgraded is forecast for China's 2024 GDP growth to 5.0% after a strong first quarter. 
  • China's breakout from its economic slump may also mean less government support ahead, BofA said.
  • BofA doesn't expect a "a full-blown growth rebound" as real estate woes and weak demand are still a problem. 

Bank of America boosted its forecast for China's economic growth in 2024 on the heels of a surprisingly strong first-quarter performance from the world's second-largest economy.

Tags
economy, Markets, china-economy, china-economy-and-markets, china-stocks, bank-of-america, china-property-crisis, china-demand, china-manufacturing, china-gdp, gdp-forecast, xi-jinping, Beijing
Source
China may be shaking out of its slump, and its economy could grow 5% this year …