S&P forecasts global GDP growth this year at 1-1.5%
21:38
S&P Global Ratings – due to the coronavirus – lowered the forecast of global GDP growth this year to 1-1.5 percent, the agency said. At the beginning of March, S&P lowered its global growth forecast for this year by 0.5 percentage point compared to expected in December last year 3.3 percent.
"The spread of the virus, which the World Health Organization has recognized as a pandemic on March 11, appears to be stabilizing in most of Asia. However, increasing restrictions on people-to-people contacts in Europe and the US have deepened market declines, with increased risk aversion and a sharp decline in business ratings As a result, we are currently forecasting a global recession for this year, with GDP growth of 1-1.5 percent,” the release reads.
(ISBnews)
