China GDP Forecasts Slashed as Lockdowns Hit Growth

Economist one after another have started cutting their forecasts for China’s full-year growth as the country fights the Covid-19 outbreak. Goldman Sachs Group Inc. economists cut their GDP forecast to 4% from 4.5%, Citigroup Inc. economists downgraded it to 4.2% from 5.1%. Standard Chartered economists cut it to 4.1% from 5%. And Bloomberg Economics’ Chang Shu explains why her team was more severe as they expect to see growth of just 2%, down from 3.6%. She speaks on “Bloomberg Markets: Asia.”