Manager raises China growth estimate by 30 basis points

China_growthDutch asset manager NN Investment Partners has raised its estimate for next year’s economic growth in China from 5.9% to 6.2% based on anticipated stimulus. Economic policy easing ought to accelerate growth in fixed investment, which represents 42% of the Chinese economy, said the firm. As a result of the improving outlook for China, NN Investment Partners has also upgraded its growth estimate for emerging markets as a whole. “We expect emerging market economic growth to avoid a sharp slowdown in the coming quarters,” said Maarten-Jan Bakkum, senior emerging markets strategist. “The decline in export growth is likely to be modest and domestic demand growth should remain resilient. “The Chinese stimulus and solid credit growth outside of the fundamentally challenged countries of Turkey, Argentina, South Africa, Indonesia and Brazil provide further reasons for confidence.” ©2018 funds global asia

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