#David kirton time for change full

Growth is expected to pick up to 4.8 per cent in the third quarter and 5.1 per cent in the fourth quarter, bringing the full-year expansion to 4.0 per cent, versus 5.0 per cent in a Reuters poll conducted in April. 'Going forward, the pace of recovery will not be as strong as in 2020 due to the lingering impact from COVID curbs, and exports and the property sector could be affected by external and internal factors.'Ĭhinese exporters face headwinds from a potentially sharp global economic downturn as major central banks tighten policy to fight soaring inflation. 'The second-quarter GDP took another hit from COVID after 2020, although the downturn may not be as sharp as before,' said Nie Wen, a Shanghai-based economist at Hwabao Trust. On a quarterly basis, GDP is forecast to drop 1.5 per cent in the second quarter, versus growth of 1.3 per cent in January-March, the poll showed.

#David kirton time for change full

The expected growth would be the weakest since a steep 6.9 per cent slump in the first quarter of 2020, when an outbreak of COVID-19 in the central city of Wuhan, first detected in late 2019, turned into a full blown epidemic. Gross domestic product (GDP) likely grew 1.0 per cent in the April-June quarter from a year earlier, according to the median forecast of nearly 50 economists polled by Reuters. Find us on social media: | For current & accurate updates: or /mandymatney Support Our Mission: /support-the-show Support the Reporting: fitsnews.BEIJING : China's economic growth likely slowed sharply in the second quarter as COVID-19 lockdowns hit factories and consumer spending, a Reuters poll showed, suggesting policymakers may have to do more to spur a faster recovery. Listen on any streaming service or visit to learn more.

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