Fitch: China's full-year growth to dip below 2% in 2020
|The US-based Fitch Ratings came out with its economic assessment report on the Chinese economy, in light of the coronavirus pandemic.
Key takeaways
Much of China’s coronavirus policy response is still pending.
Expect activity to remain weak through first half of year, and for full-year growth to dip below 2% in 2020, from 6.1% in 2019.
Projects China’s fiscal deficit will rise to 8% of GDP this year, from 5.8% in 2019.
AUD/USD sidelined below 0.6250
AUD/USD keeps its range play intact below 0.6250, little affected by the gloomy Chinese growth prospects, as the risk-on market mood underpins.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.