UBS expects upcoming data to show a contraction in China’s economy due to the coronavirus shock, pointing to “significant downside” on previous forecasts for growth.
The bank’s report on Tuesday pointed to the prospect of falling retail sales, reduced imports and exports, slower consumer price growth and record lows in factory and non-factory PMIs.
However, it also pointed to signs of the economy gearing up again, with traffic gradually increasing in major cities and coal consumption rising at power plants.
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