People wearing protective masks sit near statues on Nanjing East Road on the first day of work after the extended Lunar New Year break in Shanghai, China, on Monday, Feb. 10, 2020. Stable employment -- a top priority for China -- is under threat from the virus outbreak. The damage will determine the intensity of stimulus to support growth. Photographer: Qilai Shen/Bloomberg
BEIJING: 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 Inc, 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 gross domestic product.
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