UBS has issued a revised growth forecast for China in 2023, raising its estimate to 5.4% from 4.9% previously.

  • for CPI UBS forecast for 2023 is 2.5%, down from previoulsy at 3.0%
  • For 2024, UBS GDP forecast is 5.2% from the previous 4.8%

UBS comment:

  • Economic re-opening is proceeding better than we had expected earlier – the feared “second-wave” of Covid did not materialize and there was little sign of supply disruptions
  • expects boost to domestic demand from higher consumer confidence
  • UBS says the global economy is proving to be more resilient than earlier projections.
CNBC spoke with the global head of economic research at UBS and came away with the bombshell call