Fitch cuts China’s 2022 GDP forecast to 4.3 percent from 4.8 percent on COVID hit

  • 5/3/2022
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Fitch said on Tuesday it has cut China’s GDP growth forecast for 2022 to 4.3 percent from 4.8 percent, saying pandemic-related disruptions have had an impact on the country’s economy in the first two quarters of the year. The rating agency said it stills expects a quarter-over-quarter GDP contraction in the second quarter, before the economy starts to recover. Fitch raised its 2023 growth forecast for the country slightly higher to 5.2 percent from 5.1 percent.

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