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Forecasts indicate that China It recorded a sharp deterioration in its economic activity in March, as consumers and factories were affected by the outbreak of the epidemic COVID-19 and closings, although growth in the first quarter may have rebounded due to a strong start at the start of the year.
A Archyde.com poll showed that data, tomorrow, Monday, is expected to show growth Gross domestic product By 4.4% in the January-March period compared to the previous year, exceeding the fourth quarter pace of 4% due to a surprisingly strong start in the first two months.
However, the poll also showed that quarterly GDP growth is expected to decline to 0.6 percent in the first quarter from 1.6 percent in October and December, according to Archyde.com.
Analysts say separate data on March activity, particularly retail sales, is likely to show a sharper slowdown following it was hit hard by China’s tough efforts to contain the largest outbreak of the virus. corona Since the virus was first discovered in the city of Woohancentral China, late 2019.
Analysts say the April data is likely to be worse as the shutdown continues Shanghai and elsewhere, which has led some economists to say recession risks are rising.
The government is due to publish first-quarter and March figures on Monday at 0200 GMT as investor speculation mounts regarding whether there will be more measures to stimulate the economy.
On the health front, two people familiar with the matter said that Shanghai aims to stop the spread of COVID-19 outside the quarantine areas by next Wednesday, which would allow China’s largest city to further ease lockdown restrictions and start returning to normal life.
And according to a speech delivered by a local Communist Party official, yesterday, Saturday, and a copy of which was shared with Archyde.com, that this goal will require officials to speed up tests to detect corona and transfer positive cases to quarantine centers.
Shanghai has become the epicenter of the largest outbreak of the virus in China since the virus was first discovered in Wuhan, and more than 320,000 cases of Covid have been recorded since early last March, when it began spreading.
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Forecasts indicate that China It recorded a sharp deterioration in its economic activity in March, as consumers and factories were affected by the outbreak of the epidemic COVID-19 and closings, although growth in the first quarter may have rebounded due to a strong start at the start of the year.
A Archyde.com poll showed that data, tomorrow, Monday, is expected to show growth Gross domestic product By 4.4% in the January-March period compared to the previous year, exceeding the fourth quarter pace of 4% due to a surprisingly strong start in the first two months.
However, the poll also showed that quarterly GDP growth is expected to decline to 0.6 percent in the first quarter from 1.6 percent in October and December, according to Archyde.com.
Analysts say separate data on March activity, particularly retail sales, is likely to show a sharper slowdown following it was hit hard by China’s tough efforts to contain the largest outbreak of the virus. corona Since the virus was first discovered in the city of Woohancentral China, in late 2019.
Analysts say the April data is likely to be worse as the shutdown continues Shanghai and elsewhere, which has led some economists to say recession risks are rising.
The government is due to publish first-quarter and March figures on Monday at 0200 GMT as investor speculation mounts regarding whether there will be more measures to stimulate the economy.
On the health front, two people familiar with the matter said that Shanghai aims to stop the spread of COVID-19 outside the quarantine areas by next Wednesday, which would allow China’s largest city to further ease lockdown restrictions and start returning to normal life.
And according to a speech delivered by a local Communist Party official, yesterday, Saturday, and a copy of which was shared with Archyde.com, that this goal will require officials to speed up tests to detect corona and transfer positive cases to quarantine centers.
Shanghai has become the epicenter of the largest outbreak of the virus in China since the virus was first discovered in Wuhan, and more than 320,000 cases of Covid have been recorded since early last March, when it began spreading.
