Investment Banks Slash Expectations for China's Economic Outlook — One Sees GDP Growth of Less Than 4%

the national capital, began three days of mass testing on Monday and closed non-essential businesses in one area to control a spike in cases over the weekend.Among nine financial firms, UBS cut its China GDP growth target the most, down by 0.8 percentage points to 4.2% based on"intensified downward pressure on the economy."

Bank of America's China economist Helen Qiao made the second-largest cut, down by 0.6 percentage points to 4.8%. "In our view, even if such control measures will ultimately be rolled back and economic activities will gradually normalize by mid-year, a heavy toll on growth already seems inevitable," the report said.Allianz Trade's forecast reduction marked the second cut in just a few months.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

China Electric Car Market Reaches 26% Plugin Market Share In MarchICE IS MELTING — China Edition Plugin vehicles are all the rage in the Chinese auto market. Even with Covid-related lockdowns happening in some major cities, plugins scored 458,000 registrations, up 118% year over year
Source: cleantechnica - 🏆 565. / 51 Read more »

U.S. stocks open lower, extending selloff as China fears spark another round of jittersU.S. stocks opened lower Monday, extending a selloff that saw the Dow on Friday log its worst daily percentage drop since October 2020 as investors prepared for aggressive Fed rate increases and other measures. Why should i buy $SKYH? Is $SKYH new MEME?
Source: MarketWatch - 🏆 3. / 97 Read more »