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<Research>G Sachs: CN 4Q25 GDP Largely in Line; 2026 Real GDP Growth Forecast Kept at 4.8%
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China's GDP for 4Q25 and December retail sales data were largely in line with expectations, according to a Goldman Sachs research report. Due to a high base effect, China's real GDP slowed from 4.8% in 3Q25 to 4.5% in 4Q25, though it would have slightly accelerated instead on a QoQ basis. Meanwhile, retail sales growth slowed from 1.3% in November to 0.9% in December, showing general weakness. In contrast, the service production index rose to 5% YoY in December, higher than November's 4.2%, meaning that overall service consumption growth continued to outpace goods consumption growth. Regarding the forecasted 2026 real GDP growth for China, Goldman Sachs has kept it at 4.8%, higher than the current market consensus of 4.5%. AAStocks Financial News |
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