The novel coronavirus has severely disrupted global economic activity and the damage is about to get worse in the United States and Europe, according to international credit-rating agency S&P. “The initial data from China suggests that its economy was hit far harder than projected, though a tentative stabilization has begun,” S&P Global chief economist Paul Gruenwald said. “Europe and the United States are following a similar path, as increasing restrictions on person-to-person contacts presage a demand collapse that will take activity sharply lower in the second quarter before a recovery begins later in the year.” According to the age
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