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China’s gross domestic product (GDP) growth could dip to 3.8% in the first quarter, marking a significant slowdown from the 6% growth registered in the final three months of 2019, according to UBS economists. 

The investment bank had previously forecasted a first-quarter growth rate of 5.9%. 

The economists have also revised lower the full-year GDP forecasts to 5.4% from 6%

Many investment banks coronavirus outbreak to have a devastating impact on the economy and have revised lower their outlook for China. 

Analysts at Goldman Sachs have also revised lower the first-quarter GDP forecast to 4% from 5.6% and expects Chinese officials to counter the slowdown with a debt intensive stimulus.