30 September 2022 | Other

China's economy suffers from anti-COVID measures

As the world continues to fight the COVID-19, China is still following its tactics, showing zero spread of the virus. 

Country’s economy, in turn, is experiencing negative consequences from restrictions related to the pandemic. As official data said on Friday, the Chinese economy demonstrated a slight upward trend, while the leading indicator in the manufacturing sector showed a sharp drop.

Service sector sentiment also showed a decline despite all market expectations.

Falling performance of the world's second largest economy isn’t great news prior to the Communist Party Congress scheduled for October 16 in Beijing. Xi Jinping plans to stay for a third term, having received the status of Secretary General and Chairman of the People's Republic of China more than a decade ago. The decision is expected to be announced at the upcoming Congress.

In the second quarter, China's GDP growth stalled at just 0.4%. According to experts' forecasts, the government's target of 5.5% is unlikely to be achieved in 2022. The World Bank also lowered its expectations for the country's economy this week, predicting growth of 2.8%. 

Company MarketCheese
Period: 27.05.2026 Expectation: 140 pips
Updated weather forecast weighs on natural gas
Today at 08:24 AM 3
Period: 20.06.2026 Expectation: 1023 pips
EURUSD sell-off targets 1.11500
Today at 08:15 AM 3
Period: 30.06.2026 Expectation: 5500 pips
SPX sell-off targets 6,850
Today at 04:54 AM 9
Gold sell
Period: 30.06.2026 Expectation: 14000 pips
Selling gold down to $4,400
Today at 04:54 AM 14
Period: 19.06.2026 Expectation: 1400 pips
Investing in AUDUSD with 0.72750 in sight
Yesterday at 10:41 AM 34
Period: 26.05.2026 Expectation: 2520 pips
Buying BTCUSD with $79,600 target as rebound odds grow
Yesterday at 09:12 AM 27
Go to forecasts