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G20 Countries Will Likely Suffer a Recession This Year Due to Coronavirus, Says Moody's

Representative image. (Reuters)

Representative image. (Reuters)

China however, despite suffering an outbreak of the novel coronavirus before everyone else, could see economic activity expand by 3.3 percent.

  • AFP
  • Last Updated: March 26, 2020, 8:10 AM IST
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Paris: The world's 20 most industrialised countries will likely suffer a recession this year because of the COVID-19 pandemic, the financial ratings agency Moody's forecast Wednesday.

It estimated that the G20's overall gross domestic product would contract by 0.5 percent, with the US economy shrinking by 2 percent and the eurozone by 2.2 percent.

China however, despite suffering an outbreak of the novel coronavirus before everyone else, could see economic activity expand by 3.3 percent, a level that is nonetheless well below average for the world's second biggest economy.

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