Recession is here! Global economy facing great uncertainty ahead, S&P says ...United Arab Emirates

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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