Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

China’s Economy Seen Growing Slowest Since 1990 on Virus Hit

Published 02/17/2020, 05:52 AM
Updated 02/17/2020, 06:54 AM
China’s Economy Seen Growing Slowest Since 1990 on Virus Hit

China’s Economy Seen Growing Slowest Since 1990 on Virus Hit

(Bloomberg) -- The outbreak of the coronavirus and China’s efforts to stop the spread mean the economy will grow slower this quarter than first thought, with the median forecast now for growth to be the slowest in 30 years.

China’s gross domestic product will grow 4% in the first quarter, according to the median of 18 forecasts since Jan. 31. That’s down from 5.9% in the last survey on Jan. 22 and the lowest level since 1990. Full-year economic growth is forecast to be about 5.5%, also down from 5.9% last month.

Click to read China’s depleted coffers that challenge economic re-building after virus

Nomura Holdings Inc., Goldman Sachs Group Inc (NYSE:GS), UBS Group AG and Macquarie Group Ltd. are among those cutting their growth forecast for both the first quarter and the full year, while others expect material shocks to GDP.

Economists forecasts about the economy

(Update to add new Nomura forecast in table, update median estimate for first quarter and full year in 2nd paragraph.)

To contact Bloomberg News staff for this story: Lin Zhu in Beijing at lzhu243@bloomberg.net;Yinan Zhao in Beijing at yzhao300@bloomberg.net;Cynthia Li in Hong Kong at cli205@bloomberg.net

To contact the editors responsible for this story: Jeffrey Black at jblack25@bloomberg.net, James Mayger, Sharon Chen

©2020 Bloomberg L.P.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.