Goldman Sachs Research economists have cut their 2020 global GDP growth forecast to 1.25%, implying a recession worse than the one seen in 1991 and 2001 and less severe than in 1981-82 and 2008-09.
"As cases of the coronavirus spiral upward, disruptions to the global economy are increasing," economists noted while revising growth forecasts lower.
The investment bank now sees the US economy contracting by 5% in the second quarter and has slashed China's first-quarter estimate to -9% year-on-year from +2.5% previously.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.