Moody’s Investors Service slashed China's GDP outlook for 2022, citing disruptions in the economic activity due to covid-related lockdowns.
Key takeaways
“China's (A1 stable) COVID-19 lockdowns will hit the country's growth momentum amid the property market downturn and geopolitical uncertainties.”
"We have lowered our 2022 GDP growth forecast for China to 4.5% from 5.2%, with expectations of a 5.3% pick-up in 2023.”
“We expect a pick-up in fixed-asset investment in the second half, while demand normalization for goods and the weaker currency should support export growth.”
“But consumption will only strengthen if virus concerns wane and restrictions ease.”
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