China's Exports Likely To Turn Positive In 2024

China’s export growth may grow 3% in 2024 after ending six months of decline in November, as the U.S. inventory cycle bottoms and the purchasing power in the Eurozone and emerging markets restores amid the weaker U.S. dollar should the Federal Reserve cut interest rates, Securities Daily reported citing analysts. Fixed-asset investment may reach about 5% in 2024, from the current level of 2.9% in the first eleven months, as manufacturing investment accelerates due to recovering demand, prices and profits and lower inventory, said Wen Bin, chief economist at China Minsheng Bank. Retail sales growth, however, may remain flat in Q1 due to the high base effect for the same period last year and low levels of PPI and y/y CPI growth.