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China’s 2020 Economic Growth Seen Sliding Below 2% in Survey

  • Economists see government slashing, or abandoning, GDP target
  • Large increase in special-bond issuance expected by analysts

Photographer: AFP via Getty Images

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China’s economy will grow by less than 2% in 2020 as the anti-virus shutdowns combine with a collapse in global demand due to the pandemic, according to the latest Bloomberg survey of economists.

The median estimate for 2020 full-year gross domestic product growth from 56 economists surveyed this month fell to 1.8% from 3.7% in March. China’s economy suffered a historic contraction in the first quarter, with gross domestic product shrinking 6.8% from the same period a year ago.