China’s recent stimulus boost stoked some optimism about the economy’s recovery in the coming quarters, but economists are keeping their 2024 growth forecasts steady for now to assess how the measures will play out.

The world’s second-largest economy is projected to grow 4.5% next year, according to the median estimate in a Bloomberg survey of 48 economists conducted after last week’s official announcement of the additional stimulus. The result was unchanged from an earlier poll. The number of respondents is smaller than the usual pool due to a shorter period for submissions.