We have changed our base case and now expect a recession in virtually all G10 countries, which will lead world economic growth to slow to 0.7% for 2020, the weakest this figure has been since the great financial crisis of 2008/2009.
We have estimated the impact of COVID-19 on India’s economy, which in our base case is relatively benign due to India’s limited ties with China. However, if there the virus spreads further within India growth will go down sharply.
Economic Report Dutch version
At the start of 2020 sentiment indicators indicated a lacklustre growth for the Germany economy. The COVID-19 virus drastically changed that view however. We have revised our forecast from 0.5% to -0.3%. We forecast a recession in the second quarter of 2020.
Economic Quarterly Report Dutch version
The Dutch economy posted good figures in recent years. But due to the developments around the coronavirus, economic growth in our country is expected to fall from 1.7 percent in 2019 to 0.7 percent in 2020.