by winston » Tue Jan 18, 2022 1:55 pm
M Stanley Cuts CN 1Q22E GDP Growth to 4.5%, Yearns More Policy Easing
Considering Omicron impact, Morgan Stanley lowered China's 1Q22 GDP growth forecast by 40 bps to 4.5%.
The cut was driven by service consumption suppression during Chinese New Year.
The broker saw limited Covid impact on local supply chain as coastal manufacturing hubs have already taken more targeted containment steps.
China may ramp up its GDP growth to over 5% YoY beginning 2Q22, as the government may be promoted to adopt more easing policies due to below-target 1Q22 GDP.
Related News: PBOC Last Dec Outstanding Forex Funds Up RMB25.78B MoM
Source: AAStocks Financial News
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