Special
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.
Special Dutch version
Over the past week, Eurozone member states have announced drastic virus containment measures and large fiscal support measure are coming on stream. Moreover, the ECB has announced an extensive stimulus package as well.
Column
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.
Economic Quarterly Report Dutch version
COVID-19 has the global economy in its grip. Apart from a sharp slowdown in China, we also expect a recession in Germany and Italy. If large parts of the world experience outbreaks on the scale of Italy or China, then practically all advanced economies would fall into recession.
Economic Quarterly Report Dutch version
We expect the coronavirus to pull the Eurozone economy into a recession. For the year 2020 growth is projected to fall to around 0.2%. Yet a worse-case scenario is now definitely thinkable as well. The Italian and German economy will shrink this year.
