Economists marked up their forecasts for growth in the US and China after the world’s two-largest economies reached a temporary agreement to reduce tariffs on each other.
China’s economy is now seen expanding at least 4.6% this year from as low as 4% previously, according to new estimates from Goldman Sachs Group Inc., JPMorgan Chase & Co., ING Groep NV and Bloomberg Economics. Projections for the US still point to a slowdown, but several economists dropped their recession calls.