China bears could be in for a big letdown this year, if the latest growth upgrades for the world’s second-largest economy are anything to go by.
Deutsche Bank on Tuesday raised its third-quarter gross domestic product (GDP) growth forecast to 7.9 percent on year from 7.7 percent, and its fourth-quarter forecast to 8.0 percent from 7.8 percent.
Growth of 8 percent would be the fastest pace since the first quarter of 2012, when the economy expanded 8.1 percent. Growth at such levels would ensure the government achieves its 2013 growth target of 7.5 percent.
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