IMF may boost China forecast in light of strong Q1 growth, chief economist says

Reuters
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WASHINGTON, April 16 (Reuters) - The International Monetary Fund may need to increase its 2024 growth estimate for China in light of new data overnight showing stronger-than-expected first quarter GDP growth of 5.3%, IMF chief economist Pierre-Olivier Gourinchas said on Tuesday.

Gourinchas told a news conference that the data for the quarter exceeded the IMF's estimate that was included in its full-year China growth estimate of 4.6%. But he added this would have to be weighed against underlying weakness in China's consumer demand and its property market, which has dragged growth lower.

(Reporting by David Lawder; Editing by Chizu Nomiyama)

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