Analysts upgraded their forecast for China’s growth this year after a better-than-expected performance in the first quarter — but they see more signs that the world’s second-biggest economy will struggle to escape from deflationary pressures.
Gross domestic product is now projected to expand 4.8%, according to the median estimate in a Bloomberg survey of economists. That’s up from a 4.6% forecast in last month’s poll, and a tad closer to the government’s goal of around 5%.