BEIJING: The outbreak of the coronavirus and China’s efforts to stop its spread mean the economy will grow slower this quarter than first thought, with the median forecast now for growth to be the weakest in 30 years.
China’s gross domestic product will grow 4% in the first quarter, according to the median of 18 forecasts from Jan 31 or later. 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.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
