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Coronavirus has IMF lower growth forecasts


China’s coronavirus epidemic will likely cut 0.1% from global growth this year, according to the IMF, and drag down growth for China’s economy to 5.6%, which is 0.4% lower from its January outlook.

“But we are also looking at more dire scenarios where the spread of the virus continues for longer and more globally, and the growth consequences are more protracted,” IMF Managing Director Kristalina Georgieva declared.

“In our current baseline scenario, announced policies are implemented and China’s economy would return to normal in the second quarter. As a result, the impact on the world economy would be relatively minor and short-lived.”

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