Mounting evidence of pandemic savaging global economy

Hong Kong — Evidence of the devastation wreaked on the global economy by the coronavirus pandemic mounted on Tuesday as activity surveys for March from Australia and Japan showed record falls, with surveys in Europe and the US expected to be just as dire.

“The coronavirus outbreak represents a major external shock to the macro outlook, akin to a large-scale natural disaster,” analysts at BlackRock Investment Institute said in a note. In Australia, the CBA Services PMI fell to a record low of 39.8 as restaurants, cafes and tourism were hit hard by travel bans and cancellations of events and concerts.

Still, some analysts say infinite monetary policy easing may not be enough and fiscal steps are crucial. The latest US effort on that front remains stalled in the Senate as Democrats said it contained too little money for hospitals and not enough limits on funds for big business.

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tourists who travelled from Mpumalanga to KZN test positiveThe two Germans were tested in Mpumalanga but still chose to travel to KZN despite the global pandemic. Anything that has touring looks like having this CoronaVirusSA, whats wrong Pathetic, I thought all tourists were sent home and all tourists destinations are closed until further notices, but SA aren't greedy for money so they will keep things open as long as they can 😂🤑🤑🤑🤑💩💩💩💩
Source: TheCitizen_News - 🏆 6. / 75 Read more »

No loan, car or house payments for four months among EFF proposals to tackle coronavirus impact“Banks should not be allowed to retrench workers during the payment holiday initiative, and all payment initiatives should be for a minimum of four months.” Tell Julius_S_Malema to put his money where his fucking mouth is... The grown-ups have this. awesome
Source: TimesLIVE - 🏆 28. / 59 Read more »

Ramaphosa’s address to the nation postponed to MondayPresident Cyril Ramaphosa will have to 'cover all the bases' on the decision on how to fight the spread of the global pandemic Covid-19 in SA. This is all pretty insane - not even an update on the latest figures. How do you instill confidence in a country if you don’t communicate with them Marete a Monday...this guy doesnt take South Africans serious......Thuma mina thuma mina.....se gaat
Source: TheCitizen_News - 🏆 6. / 75 Read more »

Online shopping goes viral as SA shops from indoorsOnline retail sales in SA will definitely start increasing in the wake of the coronavirus pandemic
Source: SundayTimesZA - 🏆 47. / 51 Read more »

Limpopo premier Mathabatha shuffles provincial cabinet, axes Monica MochadiIn the middle of the coronavirus pandemic, the province has had a quiet 'reconfiguring'. Why not MEC for health
Source: TheCitizen_News - 🏆 6. / 75 Read more »

Covid-19 and beyond: More parents go the home-schooling routeCovid-19 and beyond: Parents go the home-schooling route as the new coronavirus shuts schools. Many say they may continue even after the pandemic is over. Maths will deal with me 😔
Source: City_Press - 🏆 7. / 72 Read more »