World Bank: China’s 2020 GDP forecast is 2.3%
In its latest report published on Tuesday, the World Bank outlined a 'baseline' forecasts for China’s economic growth while predicting a lower-case scenario.
Key findings
“Growth in developing economies in the Asia-pac region to slow to 2.1% in 2020, and to -0.5% in a lower-case scenario, compared to an estimated growth of 5.8% in 2019.
In China, where the coronavirus outbreak originated in late December, growth was projected to slow to 2.3% in the baseline scenario, or as low as 0.1% in the lower-case scenario, compared to growth of 6.1% in 2019.
Precise growth forecasts were difficult, given the rapidly changing situation.”
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
