Goldman Sachs analysts said on Wednesday they were lowering their forecast for China’s 2022 GDP growth to 4% from 4.5% as a result of Covid-19-related damage to the economy in the second quarter. this year.
China’s economy is more likely to miss its target than to exceed it, they added.
“Even this lower growth projection incorporates the assumption that Covid will be largely under control in the future, that the housing market will improve from here, and that the government will provide substantial compensation through infrastructure spending in the coming months,” they wrote. .
China’s retail and industrial activity fell sharply in April as Covid-19 lockdowns confined workers and consumers to their homes severely affected supply chains.
Source: CNN Brasil
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