Downward revisions continue in Chinese growth forecasts

The effect of epidemic measures continues to be monitored in the forecasts for Chinese growth.

JPMorgan and UBS were among the institutions that lowered their country's growth forecasts.

UBS cut its growth forecast for 2022 from 4.2 percent to 3 percent, while JPMorgan lowered its 2022 growth forecast from 4.3 percent to 3.7 percent.

In its assessment, JPMorgan also drew attention to the possibility of a deep contraction in the country in the second quarter due to Kovid measures.

Earlier, Goldman Sachs and Citi also made downward revisions to their forecasts.

Goldman Sachs lowered its 2022 growth forecast for China from 4.5 percent to 4 percent.

Institutional economists, referring to the government's growth target of around 5.5 percent, stated, "   Quarantines are inevitable in major economic centers such as Shanghai to keep Kovid under control. Economic performance has decreased significantly in regions shaken by case increases."

Citi also lowered its growth forecast to 4.2 percent from 5.1 percent.