Pitch "New Coronavirus May Cause China's Q1 Growth Rate to Fall to 3%"

[Asia Economy Reporter Changhwan Lee] The international credit rating agency Fitch forecasted that if the novel coronavirus outbreak is not contained early, China's economic growth rate for the first quarter of this year could fall to the 3% range.

On the 5th (local time), Fitch predicted that if the novel coronavirus causes an economic shock similar in severity to SARS (Severe Acute Respiratory Syndrome) in 2003, China's first-quarter growth rate would drop to 4.0%. Fitch's initial forecast was 5.9%.

If the novel coronavirus continues to spread without being controlled until the second quarter, China's first-quarter growth rate is expected to fall to 3.2%.