Moody’s Investors Service has cut China’s GDP outlook for 2022, citing disruptions in economic activity due to covid-related lockdowns.
Key comments
“COVID-19 lockdowns in China (A1 stable) will hit the country’s growth momentum amid housing market slump and geopolitical uncertainties“.
“We have lowered our growth forecast for China’s GDP for 2022 to 4.5% from 5.2%with expectations of a rebound to 5.3% in 2023.”
“We expect a rebound in fixed asset investment in the second half, while Goods demand normalization and weaker currency should support export growth.”
“But consumption will only strengthen if concerns about the virus subside and restrictions are relaxed.”
Source: Fx Street
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