Communist China's Economy may Shrink Last Quarter; Full-Year Growth may be Below Global Growth Rate
- 去年
Contributors: Sania S, Lady Wen, Linda Progress
A private research survey shows that the manufacturing, service, and real estate sectors in China all continued to decline in the fourth quarter of 2022 due to the outbreak of the CCP virus, potentially causing the overall economy to contract in the final months of last year.
The International Monetary Fund (IMF) said China's economic growth in 2022 could be equal to or lower than the global growth rate for the first time in 40 years.
As reported, a private research firm that studies China's economy said on January 2nd, that indices measuring earnings, sales, and employment for manufacturing and service sector companies fell sharply in the last three months of 2022 compared to both the third quarter and a year ago. The results are based on a survey of 4,354 companies in the fourth quarter of last year. Among them, the real estate industry, including transactions and prices, fell to near-record lows.
The agency said in its report that the data suggests that China's GDP may have contracted year-over-year in the fourth quarter and that the economy will grow by only 2% for the year.
A media economist predicted that China's growth slowed to 2.9% in the fourth quarter and will reach only 3% for the full year in 2022.
Another research firm's chief economist said that a meaningful recovery in the first quarter is increasingly unrealistic as the still-continuing wave of the CCP’s virus has seen investment in China fall to a ten-quarter low and new orders continue to suffer.
A private research survey shows that the manufacturing, service, and real estate sectors in China all continued to decline in the fourth quarter of 2022 due to the outbreak of the CCP virus, potentially causing the overall economy to contract in the final months of last year.
The International Monetary Fund (IMF) said China's economic growth in 2022 could be equal to or lower than the global growth rate for the first time in 40 years.
As reported, a private research firm that studies China's economy said on January 2nd, that indices measuring earnings, sales, and employment for manufacturing and service sector companies fell sharply in the last three months of 2022 compared to both the third quarter and a year ago. The results are based on a survey of 4,354 companies in the fourth quarter of last year. Among them, the real estate industry, including transactions and prices, fell to near-record lows.
The agency said in its report that the data suggests that China's GDP may have contracted year-over-year in the fourth quarter and that the economy will grow by only 2% for the year.
A media economist predicted that China's growth slowed to 2.9% in the fourth quarter and will reach only 3% for the full year in 2022.
Another research firm's chief economist said that a meaningful recovery in the first quarter is increasingly unrealistic as the still-continuing wave of the CCP’s virus has seen investment in China fall to a ten-quarter low and new orders continue to suffer.