|
We’ve updated our forecasts to reflect the impact of coronavirus. The news is not good, with 2020 poised to be the worst year since the 1930s, says Keith Wade, chief economist at Schroders.
The coronavirus is having a severe effect on global economic activity and amidst considerable uncertainty we have attempted to gauge the impact and updated our forecasts. We now expect to see the world economy contract this year by 3.5%, before rebounding by 7.2% in 2021. The forecast incorporates a severe recession in the first half of the year which, even with a rebound in the second half, means 2020 is set to be the worst year for activity since the 1930s.
Although there is considerable support from central banks and governments, the dramatic downturn reflects...
|