and other global economies falling into recession. For the United States, estimates are falling to as low as 1.7% growth this year, down from 2.3% in 2019.īut if the disease known as COVID-19 becomes a global pandemic, economists expect the impact could be much worse, with the U.S. The head of the World Health Organization said Friday that the risk of the virus spreading worldwide was “very high,” citing the “continued increase in the number of cases and the number of affected countries.”Įconomists have forecast global growth will slip to 2.4% this year, the slowest since the Great Recession in 2009, and down from earlier expectations closer to 3%. Global financial markets in turmoil as outbreak spreads Close Menu
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