Economist Intelligence Unit lowers 2020 growth forecast to 2.2%

The Economist Intelligence Unit has lowered its global growth forecast for 2020 to 2.2%, from its earlier estimate of 2.3%. The dip was due to the new risks that have emerged following the virus outbreak in China, which was recently named by the WHO as COVID-19.

The real GDP forecast for China in 2020 was also decreased to 5.4%, from the earlier estimate of 5.9%. The agency has assumed that the spread of the virus will be contained by the end of March.