Nomura Lowers China's Growth Forecast for This Year to 3.9%

Published 21 Apr.2022 10:56(KST)

[Asia Economy Reporter Kim Hyunjung] Nomura Securities has revised down its forecast for China's GDP growth rate this year from 4.3% to 3.9%, reflecting the spread of COVID-19 and related quarantine policies.

On the 21st, Nomura adjusted the forecast citing national disruptions caused by China's zero-COVID strategy. The growth rate forecast for the second quarter was sharply lowered from 3.4% to 1.8%.

Nomura economists stated in an investment note that "the number of cities under full or partial lockdown is increasing, and severe logistics disruptions are occurring," noting that Beijing is unlikely to move away from the zero-COVID policy in the short term.