Goldman Says China to Miss Growth Target on Oil Shock and Covid


Source: bnnbloomberg.ca bnnbloomberg.ca

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(Bloomberg) -- China is on course to miss its economic growth target by 1 percentage point this year as higher oil prices weigh on the world’s second-largest economy, Goldman Sachs Group Inc. said. Beijing said at the weekend it would accelerate fiscal spending and aim for growth of “about 5.5%,” this year. But Goldman analysts kept their forecast unchanged at 4.5%, citing headwinds to the economy from oil, falling housing sales and persistent local coronavirus outbreaks. Missing the target would be unusual, as Beijing has reported growth in line or exceeding the bottom range of its gross domestic product target...