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<Research>G Sachs: CN 1Q Real GDP Up 5% YoY, Above Forecasts; No Urgent Need for Near-term Stimulus
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China's real GDP grew by 5% YoY in 1Q26, above market expectations of 4.8% and the previous reading of 4.5%, according to a Goldman Sachs report. With inflation growing on global energy price surges, China's nominal GDP also increased by 4.9% YoY. Goldman Sachs maintained its 2026-27 full-year GDP growth forecasts for China at 4.7%. Due to unfavorable base effects in 2Q26, the broker expects the global energy shock to slow QoQ growth to 4% on an annualized basis, before a mild rebound to 4.5% in 2H26. The hotter-than-expected 1Q26 data that was at the upper end of the full-year growth target range suggested low urgency for additional policy stimulus in the near term. Goldman Sachs doesn't expect any large-scale stimulus measures from the Politburo meeting to be held in April. Auto-translated by AI AASTOCKS Financial News |
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