A fast spreading coronavirus outbreak could knock $211 billion off the combined ...
FILE PHOTO: A woman, wearing protective face mask, following an outbreak of the coronavirus, is pictured at the scramble crossing in Shibuya shopping district in Tokyo, Japan, March 5, 2020. REUTERS/Stoyan Nenov
S&P cut its 2020 growth forecast for China to 4.8% from previous estimate of 5.7%. It forecast Australian growth to slow sharply to 1.2% from an already below-trend 2.2% in 2019.“The balance of risks remains to the downside due to local transmission, including in economies with low reported cases, secondary transmissions in China as people return to work and tighter financial conditions,” S&P said in a report.
The coronavirus epidemic, which emanated from China’s Hubei province, has claimed more than 3,000 lives worldwide in less than three months, prompting monetary policy easings in major economies including the United States.
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