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China Food & Agribusiness Quarterly – Q4 2022
China is facing sharp economic growth slowdown due to macroeconomic and geo-political challenges around the world, the real estate market slowdown, and ongoing Covid-led lockdowns. In Q2 2022, China’s GDP growth recorded only 0.4% YOY, according to the National Statistics Bureau. Rabobank is forecasting China GDP will only grow at 2.8 % for year 2022.
In August, consumer confidence indicators (CCI) are hitting historic lows, at 91.8. CCI is less likely to improve in the short term, given the current geopolitical turmoil, the ongoing zero-Covid policy in China, and growing fears of...