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Covid-19: Fitch expects 'outright contraction' in GDP of China and India in 2020
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Ratings agency Fitch said on Wednesday that owing to coronavirus world GDP is expected to fall by 3.9% in 2020 and that the world will witness a recession of unprecedented depth in post-war period Fitch said China and India are expected to see sub -1% growth and that one can expect an outright contraction in GDP of emerging markets in 2020, something unprecedented since at least 1980s.
The agency said biggest downward GDP revisions are in the Eurozone, where measures to halt spread of coronavirus have taken a very heavy toll on activity in the first quarter.
Fitch anticipate GDP in both US and UK, where lockdowns started little later than Eurozone, will decline by more than 10% (not annualised) in the second quarter Fitch said it expects
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COVID-19
United States
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Cases: 46 252 513
Deaths: 750 423
Recovered: 0
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India
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Cases: 34 321 025
Deaths: 459 652
Recovered: 0
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Brazil
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Cases: 21 835 785
Deaths: 608 235
Recovered: 0
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United Kingdom
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Cases: 9 215 683
Deaths: 141 607
Recovered: 0
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Russia
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Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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