Suddenly the v-shaped recovery has turned u-shaped

Friday, 6 March 2020

Via S&P:

Growth across Asia-Pacific will slow to 4.0% in 2020, the lowest since the Global Financial Crisis, due to the coronavirus outbreak. A U-shaped recovery should start later in 2020 but by then overall economic damage is likely to reach US$211 billion. That’s according to an article S&P Global Ratings published titled “COVID-19 Now Threatens More Damage To Asia-Pacific.”

Asia-Pacific’s outlook has darkened mainly due to the global spread of the coronavirus.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.