Global spread of coronavirus to significantly slow economic growth: Moody's

The global spread of novel coronavirus (COVID-19) will slow economic growth significantly, amplifying effect on several sectors. On March 6, Moody’s Investor Services revised downward gross domestic product (GDP) growth forecasts for G-20 economies to 1 per cent in 2020, from 1.7 per cent in 2019, and for the emerging G-20 to 3.8 per cent in 2020, from 4.2 per cent 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.

Source: Moody's Investors Services