- Analytics
- News and Tools
- Market News
- China: Economy to expand “just” 1.8% in 2020 – UOB
China: Economy to expand “just” 1.8% in 2020 – UOB
FXStreet reports that economist Ho Woei Chen, CFA at UOB Group assessed the recently published GDP figures in the Chinese economy.
“China’s 1Q2020 GDP came in worse than expected at -6.8%y/y… with contractions registered across the primary (-3.2%), secondary (-9.6%) and tertiary (-5.2%) industries. This is China’s first GDP contraction ever recorded.”
“While the secondary industry’s contraction was the worst at -9.6% y/y amongst the industries in 1Q2020, manufacturing nonetheless showed the potential for the fastest recovery as factories restart. March data shows uneven recovery in the Chinese economy with manufacturing registering stronger rebound but consumption and investment remained in double-digit contraction and were also below consensus expectations. As such, we expect the government to target efforts at boosting consumption and investment ahead.”
“We now expect China’s economy to expand by just 1.8% in 2020, down from our earlier projection of 4.1% (2019: 6.1%). This assumes sub-par growth in the next two quarters at 3.5% y/y in 2Q2020 and 4.9% y/y in 3Q2020 and recovery to pre COVID-19 trend growth of 5.7% y/y in 4Q2020.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
