China Economic Update, December 2022

Activity in China continues to track the ups and downs of the pandemic - outbreaks and growth slowdowns have been followed by uneven recoveries. After a downturn caused by the Coronavirus disease 2019 (COVID-19) outbreaks and stringent public health measures in April and May, activity picked up in the third quarter as infections receded. Gross domestic product (GDP) expanded by 3.9 percent y/y in Q3, from 0.4 percent in Q2. High frequency indicators suggest another growth slowdown in the fourth quarter amid a return of high COVID-19 cases. Despite fiscal and monetary policy support, real GDP growth is expected to slow to 2.7 percent in 2022 - 1.6 percentage points lower than projected in the June China economic update. In 2023 growth is projected to recover to 4.3 percent but remain below the potential rate.

Bibliographic Details

Main Author:	World Bank
Format:	Report biblioteca
Language:	English en_US
Published:	Washington DC 2023-03-13
Subjects:	COVID-19, UNEMPLOYMENT, CONSUMER DEMAND, LOW INFLATION, YOUTH,
Online Access:	http://documents.worldbank.org/curated/en/099062002232318248/P1757970fbdcf3053096ae006cda0a3e01a https://openknowledge.worldbank.org/handle/10986/39522
Tags:	Add Tag No Tags, Be the first to tag this record!