China’s economy to expand 5.2% in 2022 vs. 5.6% previous estimate – Goldman Sachs

Dhwani Mehta FXStreet

Analysts at Goldman Sachs slash China’s 2022 GDP growth forecasts to 5.2% vs. 5.6% projected earlier amid the government’s efforts to reduce property debts.

Key quotes

“China’s economy will probably expand 5.2% next year, down from a previous projection of 5.6%.”

“On a year-on-year basis, growth is set to slow to 3.1% this quarter.”

“The long-term policy direction such as property deleveraging remains unchanged as evidenced by the latest news on starting property tax trials in select cities.”

Read: China warns of further spread in latest COVID-19 flare-up

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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