Economy

As China reopens and data surprises, economists are starting to get less gloomy

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The European Central Bank is expected to continue raising rates aggressively in the short-term as the euro zone economy proves more resilient than anticipated.

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After China’s reopening and a deluge of positive data surprises in recent weeks, economists are upgrading their previously gloomy outlooks for the global economy.

Data releases last week showed signs of inflation slowing and less severe downturns in activity, prompting Barclays on Friday to raise its global growth forecast to 2.2% in 2023, up 0.5 percentage points from its last estimate in mid-November.

“This is largely driven by the 1.0pp increase in our China growth prediction to 4.8% from…



Source cnbc.com

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