S&P: Escalating coronavirus shock pushing 2020 global growth to zero
AKIPRESS.COM - The International rating Agency S&P Global Ratings has lowered the forecast of world economic growth to 0.4% from 3.3% in 2020.
"In response to the ongoing extraordinary impact of the pandemic coronavirus on economic activity and financial markets we have lowered global growth to 0.4% this year, with a rebound to 4.9% in 2021. The decrease in activity will be very sharp," S&P said.
The decline in GDP is expected in the second quarter by 12%, and overall for the current year 1.3. Eurozone GDP will probably fall by 2.0%. In China, growth is projected at 2.9 per cent.