February 11, 2020 / 11:38 PM / 6 days ago

BRIEF-S&P Says Estimates Coronavirus Will Lower China’S GDP Growth By 0.7 Of Pct Point To 5.0% This Year

Feb 11 (Reuters) - S&P Global Ratings:

* S&P SAYS ESTIMATES CORONAVIRUS WILL LOWER CHINA’S GDP GROWTH BY 0.7 OF A PERCENTAGE POINT, TO 5.0%, THIS YEAR WITH A PEAK EFFECT IN Q1

* S&P SAYS EXPECT A REBOUND IN CHINA’S GDP TO BEGIN IN THIRD QUARTER, WITH ALL LOST OUTPUT RECOVERED BY END-2021

* S&P SAYS ESTIMATE THE CORONAVIRUS WILL TRIM A 0.3 PERCENTAGE POINT FROM GLOBAL GDP GROWTH IN 2020

* S&P SAYS SEE NEW CORONAVIRUS AS A “HIGH” RISK TO GLOBAL CREDIT CONDITIONS IN ASIA-PACIFIC AND MORE PARTICULARLY CHINA

* S&P SAYS SEE NEW CORONAVIRUS AS AN “ELEVATED” RISK FOR REST OF THE WORLD GIVEN LOWER INFECTION AND FATALITY RATES OUTSIDE CHINA

* S&P SAYS SPEED AND SPREAD OF CORONAVIRUS IN PAST TWO MONTHS POSES AN EMERGENT RISK TO GLOBAL ECONOMY AND CREDIT

* S&P SAYS ECONOMIC HIT FROM CORONAVIRUS (INCLUDING TRAVEL RESTRICTIONS) TO BE FELT MOST KEENLY IN SECTORS EXPOSED TO CHINESE HOUSEHOLD-RELATED SPENDING

* S&P SAYS EXPECT A LAG IN LIFTING TRAVEL RESTRICTIONS, RETURN OF MORE NORMAL BEHAVIOR BY CHINESE CONSUMERS, FIRMS AND TO A LESSER EXTENT, ASIA-PACIFIC

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