The Chinese economic hard landing continues apace with economic activity hit across the spectrum. Credit Agricole:
Q1GDP growth may edge up but with a notable sequential slowdown
We expect Q1 GDP growth to be4.3% YoY, slightly higher than 4.0% in Q421, but in %QoQ saar terms, it could decline to 2.4% from 6.6% previously. Moreover, economic activity growth in March has likely slowed quite significantly from the remarkably strong January-February. More specifically, the % YoY value added growth of the secondary industry may have strengthened in Q1, but that of the services sectors could decelerate notably, due to the Covid disruptions in March.
