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Global recession likely if coronavirus becomes pandemic: Moody's

Feb 26, 2020 17:35 IST

A global recession is likely if Coronavirus becomes a pandemic, and the odds of that are uncomfortably high and rising with infections surging in Italy and Korea, Moody's Analytics said on Wednesday. "COVID-19 is battering the global economy in numerous ways. Chinese business travel and tourism has all but stopped; global airlines are not going to China and cruise lines are cancelling most Asia-Pacific itineraries. This is a huge problem for major travel destinations, including in the US, where some 3 million Chinese tourists visit each year," Moody's Analytics said.

Economy