Global GDP growth is likely to be just 2.8% in 2020, according to Bank of America Global Research.The coronavirus along with U.S. political uncertainty and the trade war will weigh on growth, the bank says.
An employee works on the production line of a robot vacuum cleaner factory of Matsutek in Shenzhen, China August 9, 2019.Global economic growth is likely to be the worst this year since the Great Recession as headwinds from the coronavirus and other factors build, according to Bank of America. Gross domestic product growth worldwide is projected to slow to 2.8% for 2020, which BofA Global Research said would be the first sub-3% reading since the recession and financial crisis ended in mid-2009., which has slammed economic activity in China as the disease spreads. BofA economists say the U.S-China trade war, political uncertainty and weakness in Japan and some regions of South America also are part of the "large spillover effects" weighing on output.
"Extended disruptions in China should hurt global supply chains. Weak tourist flows will be another headwind for Asia," BofA economist Aditya Bhave said in a note. "And limited outbreaks, similar to the one in Italy, are possible in many countries, leading to more quarantines and weighing on confidence."
Got Bitcoin?
And 3 months ago they were buy, buy, buy
True
Makes one proud Trump is at the lead for America
Luckily, we have been doing so well that a set back isn’t as devastating as the media wants it to be.
Folks, if you’re able to survive this latest attack by the WS white collar Taliban, on fake fear, next time you’re above water get out forever, you will feel better in actual cash, markets nothing more than a computerized organized crime ring at this point, compliments of the SEC
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Reuters - 🏆 2. / 97 Read more »
Source: Reuters - 🏆 2. / 97 Read more »
Source: Reuters - 🏆 2. / 97 Read more »
Source: CNBC - 🏆 12. / 72 Read more »
Source: BuzzFeed - 🏆 730. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »