Factbox-Upbeat China Q3 GDP prompts most brokerages to raise their targets

(Reuters) – Five big brokerages, including J.P.Morgan, raised their 2023 growth forecasts for China, after the country’s economy grew at a faster-than-expected pace in the third quarter from a year earlier.

Goldman Sachs, however, cut its view to bring it more in line with the target set by its peers. All six brokerages listed below have pegged their estimates above Beijing’s 5% growth target for the year.

Following are the forecasts from global brokerages:

Brokerage Current 2023 GDP Growth Previous 2023 GDP Growth

Forecast Forecast

J.P.Morgan 5.20% 5%

Nomura 5.10% 4.80%

Citigroup 5.30% 5%

Goldman Sachs 5.30% 5.40%

UBS 5.2% 4.8%

Morgan Stanley 5.1% 4.8%-4.9%

(Compiled by the Broker Research team in Bengaluru; Edited by Shounak Dasgupta)