China GDP to grow 5% in 2020 - S&P
Ratings agency Standard & Poor's (S&P) expects China's gross domestic product (GDP) growth rate to slow to 5% in 2020 due to coronavirus. The economy expanded by 6% in 2019.
Most private economists have recently downgraded growth forecasts for China. Westpac fears the growth rate could go as low as 2% in the first quarter if the coronavirus profile was similar to the SARS experience. The investment bank expects the full-year growth rate to drop to 5.3%.