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- China’s 2020 GDP forecast slashed to 5.2% – Goldman Sachs
China’s 2020 GDP forecast slashed to 5.2% – Goldman Sachs
FXStreet reports that in light of growing China coronavirus economic risks, Goldman Sachs analysts made a downward revision to the Chinese growth forecast for 2020
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China's 2020 GDP forecast lowered to 5.2% vs. 5.8% previous.
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The downgrade reflects a sharp deterioration in Q1 activity.
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But points to high degree of uncertainty surrounding this growth revision.
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Will review its forecast as developments evolve.
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Need to gauge the size of the economic drag from the virus outbreak.
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Remain overweight on EM currencies, also overweight in JPY as a hedge for risk-off sentiment during this time.
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