CHINA-ECONOMY: CHINA'S GROWTH LIKELY HIT 44 YEAR LOW

Reuters reported (April 14) that according to the median of 62 analysts surveyed by it, growth in the world’s second-biggest economy for 2020 was forecast at 2.5%, which would mark the weakest since 1976, the final year of the decade-long Cultural Revolution that wrecked the economy. The survey also predicted China’s economy in the first quarter will contract by 6.5% year-on-year, for the first time since at least 1992 when the country first started issuing quarterly gross domestic product (GDP) data. It also marks a reversal from 3.5% growth forecast in the last survey done in the previous month. China will release its first-quarter GDP data on April 17.





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