China Economic Update, December 2022

• Ngôn ngữ: eng
• Ký hiệu phân loại: 609.31 Historical, geographic, persons treatment
• Thông tin xuất bản: Washington DC, 2023
• Bộ sưu tập: Tài liệu truy cập mở
• ID: 328401
• Chủ đề: 1. CONSUMER DEMAND; 2. COVID-19; 3. LOW INFLATION; 4. UNEMPLOYMENT; 5. YOUTH

Tóm tắt

Activity in China continues to track the ups and downs of the pandemic - outbreaks and growth slowdowns have been followed by uneven recoveries. After a downturn caused by the Coronavirus disease 2019 (COVID-19) outbreaks and stringent public health measures in April and May, activity picked up in the third quarter as infections receded. Gross domestic product (GDP) expanded by 3.9 percent y/y in Q3, from 0.4 percent in Q2. High frequency indicators suggest another growth slowdown in the fourth quarter amid a return of high COVID-19 cases. Despite fiscal and monetary policy support, real GDP growth is expected to slow to 2.7 percent in 2022 - 1.6 percentage points lower than projected in the June China economic update. In 2023 growth is projected to recover to 4.3 percent but remain below the potential rate.