Analysts at HSBC offer their bleak outlook on global economy, with a steeper contraction predicted in the face of the coronavirus pandemic.
Key quotes
“We are likely to see a deeper contraction in 2020 than during the global financial crisis. But so much depends on what comes next: how long the suppression measures last, what medical science can deliver, what further policy support is available.
What is already clear is that this is not just a short-term issue: the medium to long-term implications for global growth, debt levels, public policy and globalization are going to be vast.”
- Global economy to contract by 2% in 2020, recovery to be U–shaped – Reuters poll
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