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- Coronavirus: A couple of years to return to pre-crisis levels – Capital Economics
Coronavirus: A couple of years to return to pre-crisis levels – Capital Economics
FXStreet reports that Neil Shearing, a Chief Economist at Capital Economics, analyzes the implications of the coronavirus outbreak for the global economy.
“We think most economies will suffer falls in GDP of between 10-20% q/q in the first or second quarter of this year.”
“We’ve marked our forecast for global GDP in 2020 down from +2.9% y/y to -1.0% y/y.”
“Our working assumption is that most economies will return to their pre-crisis path of GDP within a couple of years, albeit with some permanent lost output in the meantime.”
“Our view is that deflation poses a much greater risk than inflation in the short term.”
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