Economists at Standard Chartered Bank have had to downgrade their global growth forecast after the outbreak of the coronavirus in China. Key quotes “We have downgraded our forecast for China’s 2020 growth to 5.8% from 6.1%. We now also lower our global GDP growth forecast to 3.2% from 3.3%.” “Taiwan, Singapore, Thailand and Hong Kong show the highest beta to China’s growth and may experience the largest knock-on effect from China’s expected near-term downturn.” “Our global GDP growth projection faces further downside risks as we review our forecasts for a number of economies. A downward revision of just 0.1ppt in the US and euro-area growth would lower our global growth projection to 3.152% from 3.181% currently. A larger downward revision would easily lower our projection to 3.1%.” “Another new shock in the coming months would increase the chances of a global recession (which we define as global growth falling below 2.5%).” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Coronavirus: Room for fiscal policy – Standard Chartered FX Street 2 years Economists at Standard Chartered Bank have had to downgrade their global growth forecast after the outbreak of the coronavirus in China. Key quotes “We have downgraded our forecast for China’s 2020 growth to 5.8% from 6.1%. We now also lower our global GDP growth forecast to 3.2% from 3.3%.” “Taiwan, Singapore, Thailand and Hong Kong show the highest beta to China’s growth and may experience the largest knock-on effect from China’s expected near-term downturn.” “Our global GDP growth projection faces further downside risks as we review our forecasts for a number of economies. A downward revision of just 0.1ppt in… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
