Business,  China,  Coronavirus outbreak,  World news

Coronavirus ‘could cost global economy $1.1tn in lost income’

Oxford Economics says virus already having ‘chilling effect’ as China factory closures spread

The coronavirus could cost the global economy more than $1tn in lost output if it turns into a pandemic, according to a leading economic forecaster.

Oxford Economics warned that the spread of the virus to regions outside Asia would knock 1.3% off global growth this year, the equivalent of $1.1tn in lost income.

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