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ANZ: China’s GDP Downgraded As Economic Woes Persist

CHINA

ANZ note that “China’s PMI survey data for August showed a contraction in factory activity. Unless the economy revives strongly in September, our monthly tracker predicts that GDP growth will likely dip below 3.0% in Q3 this year.”

  • “The government is inclined to tighten its zero-COVID approach ahead of the 20th Communist Party Congress from 16 October. Domestic activity will likely be disrupted.”
  • “China’s export cycle is turning as port activity slows and global supply chain activities falter.”
  • “We have trimmed our 2022 GDP forecast to 3.0% from 4.0% as both domestic and external demand continue to weaken.”
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
Energy BulletsCommodities

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