Some analysts are warning that the impact from the outbreak on the global economy could be much greater than investors appear to think.
Analysts at Nomura said in a note that measures of returning workers and passenger traffic flows within China suggested the virus had “a devastating impact on China’s economy in January and February ... We are concerned that global markets thus far appear to be significantly underestimating the extent of disruption inflicted by the virus”.
We wrote earlier that Capital Economics has downgraded its forecast for Chinese GDP in the first quarter of this year to 3%, down from 5%.
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