Tuesday, February 18, 2020

Economists cut China's growth forecast on coronavirus impact

Feb 13. 2020
File Photo: car factory in China
File Photo: car factory in China
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By Syndication Washington Post, 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, according to economists.

Goldman Sachs Group, UBS Group and Macquarie Group are among those cutting their growth forecast for both the first quarter and the full year, while others expect material shocks to gross domestic product.

China's real gross domestic product is now forecast to grow 5.8% this year, according to the median result in a Bloomberg survey. That's down from 5.9% last month.

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