S&P forecasts hit to China's economic growth in 2020 from coronavirus

Predicts virus will be contained in March

S&P Global Ratings has estimated that full-year growth in China will fall to 5% this year, down from its previous forecast of 5.7%, as coronavirus inflicts a "temporary blow" on its economy.

The ratings agency said it expects a peak hit to China's growth in the first quarter of 2020, with a recovery in place by the third quarter. S&P's baseline is that the virus will be contained globally in March, and for travel and other restrictions to be unwound by mid-Q2. However, it warned that if the coronavirus outbreak is not contained "the economic impact could develop exponentially with significant credit implications". Coronavirus contagion concerns: Unknown territory S&P has said that "lost ground" will be made up in 2021 and has forecast above-trend GDP growth of 6.4% ...