China looks headed for worst economic performance in 50 years

Beijing

CHINA could be heading for its worst economic performance in 50 years, with the latest monthly data published last week confirming the depth of its economic standstill.

Far worse than analysts' expectations, all indicators contracted in double digits for the two months of January and February combined, bringing grim prospects for the first quarter. Estimates are now ranging from negative quarter-on-quarter growth - from minus-10 per cent to minus-20 per cent.