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That said, the European economy is on track to recover to prepandemic levels by the end of this year and is poised for 4.6% GDP growth in 2022, as a strong labor market supports improving consumer spending. China's regulatory reset could knock down 2022-25 GDP growth by 40bp (China GDP). Advertisement. Huang said he expects China to miss its target of 5.5 percent economic growth for the full year because of the severity of the lockdowns. About 4 percent will be more realistic, he. China: Nominal fixed investment growth gains momentum in August. September 16, 2022. Nominal urban fixed asset investment increased 5.8% in year-to-date terms in August.