Goldman Sachs cut its 2022 forecast for China's economic growth Tuesday in expectation of increased restrictions on business activity to contain omicron.
Goldman Sachs cut its 2022 forecast for China economic growth to 4.3%, down from 4.8% previously.
Consumption will likely be affected the most, while exports less so as they assume limited disruptions to supply chains, the analysts said. In the last few days, China has reported pockets of omicron cases in Tianjin city and Anyang, Henan province, which have prompted at least partial lockdowns.to control a Covid outbreak that authorities say is not linked to omicron.
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