The global GDP growth could slow down to as little as 1.5 percent in 2020 if the spread of novel coronavirus intensifies, the Organisation for Economic Co-operation and Development (OECD) said in its preliminary forecast issued Monday
MOSCOW (Pakistan Point News / Sputnik - 02nd March, 2020) The global GDP growth could slow down to as little as 1.5 percent in 2020 if the spread of novel coronavirus intensifies, the Organisation for Economic Co-operation and Development (OECD) said in its preliminary forecast issued Monday.
If coronavirus outbreak outside China is contained, the global GDP growth is expected to be at 2.4 percent, which is still 0.5 percentage points lower than previous estimate.
China's GDP growth forecast for 2020 was revised down by 0.8 percentage points � compared to November estimate � to 4.9 percent. However, the 2021 estimate was revised up by 0.9 percentage points to 6.4 percent on the expectation that production would return to normal.
The GDP of the euro area in 2020 is expected to be at 0.8 percent, which is 0.3 percentage points lower than the previous estimate.
Russia's 2020 GDP growth estimate was downgraded by 0.4 percentage points to 1.2 percent. Next year's forecast was downgraded by 0.1 percentage points to 1.3 percent.
