CRV
As coronavirus cases climb to 90,000 worldwide, the U.S. has recorded at least 89 infections, according to the CDC. Health authorities in Washington state confirmed the first and second death in the U.S. from the disease over the weekend, with cases of the virus now being reported across ten states and populous cities. The first in NYC announced on Sunday was a woman in her late 30s who recently traveled to Iran. Quarantine procedures of 14 days are in effect.
Global output is expected to fall during the first three months of this year due to the coronavirus, putting the economy at risk of recession, according to fresh forecasts from the OECD. In its "best case" scenario, the global economy would grow by 2.4% during 2020 (vs. 2.9% last year), before rebounding in 2021. However, the recovery won't be immediate, and some lost output would never be recovered. "It's not like it plunges and then it recovers quickly," said Laurence Boone, the OECD's chief economist.
Economic impact on China
Stimulus bets saw China lead gains across Asia, with the Shanghai Composite closing up 3.2%, despite the first look at the economic toll the coronavirus has taken on the country. Fresh data showed Markit/Caixin's China manufacturing PMI dropping to 40.3 vs. 51.1 in January, while the official PMI from the National Bureau of Statistics slipped to 35.7 - the lowest level on record. Gaming revenue in Macau also plunged 87.8% in February to 3.10B patacas ($387M) with casinos closed for 15 days and sparse traffic for the balance of the month.
«Después de nada, o después de todo/ supe que todo no era más que nada.»