China Q2 GDP seen growing 1.0 yy, vs Q139;s 4.8
China 2022 growth seen at 4.0, 2023 growth at 5.3
Inflation seen at 2.3 in 2022 and 2023
C.bank seen cutting LPR by 10 bps in Q3 2022

BEIJING, July 13 Reuters China39;s economic growth likely slowed sharply in the second quarter as COVID19 lockdowns hit factories and consumer spending, a Reuters poll showed, suggesting policymakers may have to do more to spur a faster recovery.

Gross domestic product GDP likely grew 1.0 in the AprilJune quarter from a year earlier, according to the median forecast of nearly 50 economists polled by Reuters.

The expected growth would be the weakest since a steep 6.9 slump in the first quarter of 2020, when an outbreak of COVID19 in the central city of Wuhan, first detected in late 2019, turned into a full blown epidemic.

On a quarterly basis, GDP is forecast to drop 1.5 in the second quarter, versus growth of 1.3 in JanuaryMarch, the poll showed.

The secondquarter GDP took another hit from COVID after 2020, although the downturn may not be as sharp as before, said Nie Wen, a Shanghaibased economist at Hwabao Trust.

Going forward, the pace of recovery will not be as strong as in 2020 due to the lingering impact from COVID curbs, and exports and the property sector could be affected by external and internal factors.

Chinese exporters face headwinds from a potentially sharp global economic downturn as major central banks tighten policy to fight soaring inflation.

Growth is expected…