Caixin
Jul 14, 2022 09:58 PM
ECONOMY

Covid Curbs Likely Dealt Heavy Blow to China’s Second-Quarter GDP, Economists Say

As China prepares to release its second-quarter GDP data on Friday, economists are estimating that the country’s tough Covid-19 restrictions have dealt a heavy blow to growth, a Caixin survey showed.

Year-on-year growth in second-quarter GDP is predicted to fall to 0.8%, down from 4.8% growth in the previous three months, according to the average estimate of 13 institutions surveyed by Caixin. The projection marks the slowest expansion rate since the first quarter of 2020, when the Chinese economy booked its first quarterly contraction since the data series began in 1992, following the first outbreak of the coronavirus.

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