imageEconomic Indicators12 hours ago (Mar 02, 2020 12:49AM ET)

(Bloomberg) — The outbreak of the coronavirus and China’s efforts to stop its spread mean economists are again revising their estimates for output this quarter, with the median forecast now for year-on-year growth to be 4.2%, the weakest in 30 years.

Australia and New Zealand Banking Group Ltd. and Barclays (LON:BARC) Plc cut their forecasts over the weekend after February factory data fell to a record low, and now expect full-year growth to be below 5%.

The median forecast last week was that gross domestic product would grow 5.5% in 2020, according to a survey of economists. That was already down from the forecast of 5.9% in January, but without taking into account the slump in the gauge of factory activities posted on Feb. 29.

Read more: China’s depleted coffers that challenge economic re-building after virus

Some analysts now expect a sizable drop in economic activity this quarter, compared to the last three months of 2019.

Economists forecasts about the economy

(Update to add new Barclays, ANZ, Nomura forecast at top of table.)

To contact Bloomberg News staff for this story: Lin Zhu in Beijing at;Yinan Zhao in Beijing at;Cynthia Li in Hong Kong at

To contact the editors responsible for this story: Jeffrey Black at, James Mayger

(C)2020 Bloomberg L.P.

ANZ, Barclays See China’s Economy Growing Slower Than 5% in 2020

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.