Economists Rush to Adjust China Forecasts as ‘Zero Covid’ Ends

(Bloomberg) — China’s abrupt ending of its “zero-Covid” restrictions forced economists to make sharp revisions to their growth projections for this year and next.

UBS Group AG and Australia & New Zealand Banking Group Ltd. (ANZ) were the latest to adjust forecasts Friday, cutting growth estimates for this year to 2.7% as Covid infections spread rapidly. They raised predictions for next year sharply to economic expansion of close to 5% or higher on the expectation that consumer and business activity will recover as Covid infections subside.