Global spread of coronavirus to affect economic growth significantly

The global spread of coronavirus will slow economic growth significantly amplifying the effect on several sectors. On March 6, Moody's Investor Services revised downward GDP growth forecasts for G-20 economies to 1% in 2020, from 1.7% in 2019, and for the emerging G-20 to 3.8% in 2020, from 4.2% in 2019, including a substantive slowdown in China. The ability of some companies to withstand the effects of the virus will depend on its duration.There is a higher than usual degree of uncertainty around the forecasts, admits Moody's Investor Services, since events are unfolding very rapidly on a daily basis.