China economy faces worst slowdown since pandemic, says financial experts Nomura Holdings

Medical staff in personal protective equipment (PPE) work in front of barriers of an area under lockdown, amid the coronavirus disease (Covid-19) pandemic, in Shanghai, China March 25, 2022. - Reuters

SHANGHAI, March 26 (Bloomberg): China’s economy faces its worst downward pressure since the spring of 2020 when it was hit by the first wave of Covid-19, according to Nomura Holdings Inc.

The slowdown in China’s growth worsened in the first quarter and markets should be concerned about a further slide in the second, Nomura Holdings Inc. economists including Lu Ting wrote in a note Saturday.