It’s raining China growth downgrades

Friday, 20 May 2022

More of them every day now:

A slew of economists have cut their forecasts for China’s full-year economic growth in recent days after the country reported worse-than-expected data for April while still signaling that its tough anti-Covid curbs aren’t going anywhere.

Standard Chartered Plc and Bloomberg Economics each downgraded their estimates for 2022 on Thursday, after Goldman Sachs Group Inc. and Citigroup Inc. did so earlier in the week.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.