The impact of the coronavirus outbreak in China on U.S. economic growth will be ...
BENGALURU - The impact of the coronavirus outbreak in China on U.S. economic growth will be negligible and short-lived, according to economists in a Reuters poll who nonetheless now say risks to their forecasts are skewed more to the downside.
The forecast for growth in the current quarter was reduced just 0.1 percentage point to a seasonally adjusted annualized rate of 1.5% - already slow, even by recent standards. The economy was then expected to grow 1.8-2.0% each quarter until end-2021. In that survey, which was conducted before the World Health Organization declared the coronavirus a global public health emergency, 56% of economists said the risks to their U.S. growth views were more to the upside.
“It is impossible to forecast the path of the virus, but it increases the chances the Federal Reserve will cut rates at least once more to provide some support to the economy.”
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