0345 GMT - China's economic growth is likely to fall meaningfully in 2Q given strong headwinds from U.S. tariffs, Goldman Sachs economists say. Though 1Q GDP and March activity data broadly beat market expectations, GS expects sequential growth to decline in 2Q. China's exports have benefited from rush shipments in March fueled by fears of higher U.S. tariffs, and GS sees potential payback effects from previous export frontloading weighing on economic growth in 2Q."We believe the urgency for more policy easing is on the rise and fiscal expansion will likely do most of the heavy lifting to stabilize growth," GS says, but adds that this is unlikely to be enough to fully offset severe external shocks. (fabiana.negrinochoa@wsj.com)
(END) Dow Jones Newswires
April 15, 2025 23:45 ET (03:45 GMT)
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