News Snapshot:
KEY POINTS BEIJING — Goldman Sachs analysts on Wednesday cut their forecast for China’s GDP to 4% after data for April showed a slump in growth as Covid-19 controls restricted business activity. The new forecast is even further below the “around 5.5%” growth target the Chinese government announced for the year in March. “Given the Q2 Covid-related damage to the economy, we now expect China’s growth to be 4% this year (vs. 4.5% previously),” Hui Shan and a team at Goldman wrote in a report Wednesday. That prediction assumes there will be significant government support, on top of measures to...
