scorecardresearchChina Braces for a Slowdown That Could be Even Worse Than 2020

China Braces for a Slowdown That Could be Even Worse Than 2020

Updated: 15 Sep 2022, 08:01 AM IST
TL;DR.
Growth projections have come down steadily since March, when the official target of around 5.5% was first disclosed. The consensus in a Bloomberg survey is for the economy to expand 3.5% this year, which would be the second-weakest annual reading in more than four decades. Forecasters at Morgan Stanley and Barclays Plc are among those predicting even slower growth as risks mount into year-end.
A worker stands on a platform near a Chinese national flag, Friday, July 15, 2022, in Beijing. China's economy contracted in the three months ending in June compared with the previous quarter after Shanghai and other cities shut down to fight coronavirus outbreaks, but the government said a stable recovery is under way after businesses reopened. (AP Photo/Ng Han Guan)

A worker stands on a platform near a Chinese national flag, Friday, July 15, 2022, in Beijing. China's economy contracted in the three months ending in June compared with the previous quarter after Shanghai and other cities shut down to fight coronavirus outbreaks, but the government said a stable recovery is under way after businesses reopened. (AP Photo/Ng Han Guan)