News Snapshot:
News Snapshot: Goldman Sachs has cut its forecast for 2022 China GDP to 4% from 4.5% y/y - & has cut the Q2 estimate to 1.5% y/y (from 4%) Goldman Sachs says it assumes: - Full-year growth is based on the assumption that Covid will remain mostly under control - that the property market improves - the government boosts infrastructure spending The Chinese government's forecast for GDP growth this year is 'around 5.5%' - to get close GS says “it is imperative to keep Covid under control and avoid hard lockdowns of major economic centres like Shanghai going forward” ps....
