Moody’s forecasts recession for G20 countries in 2020 due to coronavirus
Paris, March 25
The world’s 20 most industrialised countries will likely suffer a recession this year because of the COVID-19 pandemic, the financial ratings agency Moody’s forecast on Wednesday.
It estimated that the G20’s overall gross domestic product would contract by 0.5 per cent, with the US economy shrinking by 2 per cent and the eurozone by 2.2 per cent.
China however, despite suffering an outbreak of the novel coronavirus before everyone else, could see economic activity expand by 3.3 per cent, a level that is nonetheless well below average for the world’s second biggest economy. — AFP
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