March 19, 2020 / 2:46 AM / 11 days ago

UPDATE 2-Analysts slash China growth forecasts to record lows amid coronavirus

 (Adds growth forecast from Oxford Economics)
    BEIJING, March 18 (Reuters) - Analysts are slashing growth
forecasts for China to lows not seen since the Cultural
Revolution ended in 1976, as the coronavirus pandemic takes its
toll on the world's second-largest economy. 
    Most analysts now expect a contraction in gross domestic
product in the first quarter, with projections dropping sharply
after dismal activity data for the January and February period
was released on Monday.
    Most full-year GDP forecasts are also now well below last
year's growth of 6.1%. 
 
                Q1 growth  Full year  Previous  Previous full
                forecast   growth     Q1        year forecast
                (y/y)      forecast   forecast  
 Nomura         -9%        1.3%       0.0%      4.8%
 Capital        -16%       -3%        -2%       3%
 Economics                                      
 Goldman Sachs  -9%        3%         2.5%      5.5%
 S&P Global     -10%       2.9%       2%        4.8%
 Ratings                                        
 UBS            -5%        1.5%       2%        4.8%
 Standard       -4.2%      4%         2.8%      5.5%
 Chartered                                      
 Oxford         -5%        1%         2.3%      4.8%
 Economics                                      
 
 (Reporting by Gabriel Crossley; Editing by Alex Richardson,
Aditya Soni)
  
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