BEIJING, Jan 15 — China’s economic growth for 2022 is expected to have been among its weakest in four decades after the twin crises of the pandemic and property woes, analysts...
BEIJING, Jan 15 — China’s economic growth for 2022 is expected to have been among its weakest in four decades after the twin crises of the pandemic and property woes, analysts said ahead of Tuesday’s GDP announcement.
Beijing had set itself a growth target of around 5.5 per cent for 2022 but this was undermined by the government’s “zero-Covid” policy, which put the brakes on manufacturing activity and consumption. This is likely to reflect in 2022’s fourth-quarter growth, which will also be announced on Tuesday alongside a series of other indicators such as retail, industrial production and employment.
Rabobank analyst Teeuwe Mevissen echoed Zhang, saying the final quarter will “almost certainly show a decline because of the fast spread of Covid” after the loosening of health restrictions in December.Problems in the property sector are also still weighing on growth, Mevissen said.
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