China’s economy is coming under strain because of an escalating Covid outbreak, with economists warning of a deeper slowdown if lockdowns in Shanghai and elsewhere continue to expand. Natixis SA estimates the Covid controls will cut the economic growth rate in the first quarter by 1.8 percentage points. Long-lasting restrictions across the country could push gross domestic product growth toward 4% this year, according to UBS Group AG, well below the government’s target of about 5.5%. Economists at Nomura Holdings Inc and NatWest Group Plc have already downgraded their growth forecasts for the second quarter as the outbreaks worsen. Researchers at Chinese University of Hong Kong estimate a s
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