China’s fourth quarter GDP growth forecast at the slowest pace in a year and a half

A Reuters poll showed that the Chinese economy is likely growing at the slowest pace in a year and a half during the fourth quarter, impacted by weak demand due to the collapse of the housing market, debt restrictions and stringent Covid-19 measures, which have increased the strain on policymakers to do more. Facilitations.

Data released Monday is expected to show GDP growth of 3.6% in October-December from a year earlier, the weakest pace since Q2 2020 and a 4.9% slowdown in Q3, the survey said. .

Quarterly growth is expected to rise to 1.1% in the fourth quarter from 0.2% in the July-September period.

For 2021, GDP is likely to have increased by 8.0%, the highest annual growth rate in the past decade, in partly due to a low base set in 2020, when the economy was rocked by COVID-19 and rigid blockades.

The government will release GDP data alongside December activity data on Monday.

The second largest economy in the world faces multiple obstacles in 2022, including the continuing decline of the housing market and the new challenge posed by the recent local spread of the highly contagious mutated strain of the Corona virus, Omicron.

A slowdown in exports is also expected, which was one of the few areas of strength in 2021, as the government continues its efforts to stem the environmentally harmful emissions of industries.

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