China expected to announce lowest annual growth rate in over 40 years.
The first country affected by the Covid-19 epidemic, China experienced a historic decline in its growth in the first quarter of 2020 (-6.8%), after unprecedented containment measures which weighed on activity.
A group of 13 experts, expects on average for 2020, a 2% increase in the gross domestic product (GDP) of the world’s second-largest economy.
China is expected to announce Monday for 2020, its lowest annual growth rate in more than 40 years due to Coronavirus, despite a strong recovery in activity at the end of the year, thanks to the epidemic coming under control.
Over the past quarter, the recovery should be much more marked, according to analysts, who expect growth of 6.3% of GDP over the period October-December.
The gradual improvement in sanitary conditions from spring, however, allowed GDP to rebound. In the 3rd quarter, it was up 4.9%.
China has largely contained the Coronavirus epidemic on its soil through tests, lockdowns, quarantines and movement tracking. Life has resumed an almost normal course.
But certain sectors, in particular services, are still struggling, notably hotels, restaurants and leisure.
If China would then be one of the few countries to post positive growth, this rate of growth would nonetheless fall sharply compared to the 6.1% recorded in 2019 – which was already a near low.
At a time when a large part of the world remained paralyzed by the epidemic, the strong demand for medical products and equipment for teleporting (computers in particular), has greatly benefited Chinese producers. The Asian giant’s exports jumped another 18.1% year-on-year last month.