Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
China's economic growth
Economy

China’s growth will be among the lowest

15.11.2022
2 min read

Analysts: China’s annual economic growth will be low

Experts began to revise their forecasts of China’s market development since March of this year. For some time they noted that China’s economic growth will be about 5.5%, but now the indicators at the level of 3.5% are relevant.
Last month analysts saw signs of recovery, as the dynamics were higher than in the previous period. Rising retail sales and increased investment added to the optimism. In addition, the urban unemployment rate dropped to 5.3%. Around this period, the government introduced subsidies for the purchase of electric cars, which boosted their sales. Coal-fired electricity production increased by almost 15%, and aluminum production increased by 10%.
To stabilize the difficult situation in the construction sector, the government introduced special support programs. There was an increase in infrastructure funds allocated by the government. As one of the options for stimulating the local economy, the Chinese Central Bank has reduced interest rates. Despite this, Macquarie Group analysts believe that such measures will not seriously affect the growth figures. China’s economy is going through tough times right now, and the year-to-date results will be lower than even in 2020.China's annual economic growthSummer residential real estate sales in the country were 30% lower than the previous year. The total amount was about $129 billion. Since August, the market has seen a decline in the number of transactions, a trend that continues now. Cement production is down 13%, although it was down 9% as recently as last month.
According to analysts from Morgan Stanley, there are more risks that negatively affect the growth of the Chinese economy. Therefore, we should be guided by the annual development indicator of 3.5%. Forecasts experts from Barclays even lower – 2.6%.
It is expected that the crisis in the real estate market will continue in 2023, and sales growth is not yet necessary to wait. In addition, the consumer confidence index is the lowest in the last 10 years. The Chinese government has tried to reduce the number of risky debts of local developers, but as a result, the situation worsened and led to a crisis in the entire real estate market. Major developers could not cope with the difficulties and defaulted, resulting in many projects being stopped. In turn, this affected the homeowners who have not received their apartments and refused to pay the mortgage.
As for other sectors of the economy, things are not going well there either. The tourism industry is practically on pause, in addition, analysts predict a decline in oil demand of about 2.7%, which was last seen in 1990.

Tags: Economy
0
Previous Post Charlie Lee: the story of Litecoin cryptocurrency development Next Post FedEx reports quarterly earnings

You Might Also Like

hitting the economy
Economy
Weather in Germany is hitting the country’s economy
17.01.2021
global car market-2
Economy
UBS: the global car market is undergoing a transformation
03.02.2024
damages to the United States
Economy
What damage has been caused by the pandemic in the USA in 2020: figures from analysts
26.06.2021
global inflation continues to rise
Economy
Global inflation gaining momentum: a review of the global economy
18.01.2023
main trading partner
Economy
China has become the EU’s main trading partner
28.12.2021
Economy policy
Economy
How Germany’s economy policy minimized the damage from the pandemic
22.01.2021

Popular Posts

  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Analysts: Egypt’s economy to continue falling in 2023

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Press Secretary
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Press Secretary
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Press Secretary
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Press Secretary
16.05.2020

Popular Posts

  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Spain’s economy performs best in the EU
  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Businessman Chuck Feeney: the man who gave the world Duty Free
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram

© 2024 CHASLAU KONIUKH. ALL RIGHTS RESERVED. Expert in marketing and project management, international investments, financial analyst.

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics