The Economist Intelligence Unit has revised downwards its global growth forecast for 2020 to 2.2% from 2.3%. This impact because of Novel coronavirus outbreak in China and also the virus starts spreading globally. The virus originated in Wuhan, a city of around 11.3 million people in central Hubei province, China, and has spread to most provinces in mainland China and overseas.
Global growth was sluggish throughout 2019 amid trade tensions, a sharp deceleration in real GDP growth in the US, China and India and political uncertainty in a number of EU countries. EIU also revised China’s growth downwards by lowering the real GDP (Gross Domestic Product) forecast for China in 2020 to 5.4 per cent from 5.9 per cent earlier.
EIU also estimated the GDP growth for India to 6.1 per cent for 2020 from 4.9 per cent estimated for the year 2019, Low-interest rate in India will increase the demand and Investment in 2020 and also the coronavirus does not spread in India are the reasons for the upward GDP growth.
Important takeaways for all competitive exams:
Weekly Current Affairs One-Liners Current Affairs 2025 plays a very important role in the competitive…
India has many cities that are famous for their unique industries, and some of them…
Some deserts are extremely hot, but some remain cold throughout the year. These cold deserts…
In today’s world, news media plays a very important role in sharing information quickly and…
PNB Housing Finance has announced the appointment of Ajai Kumar Shukla as its new Managing…
In a major push towards deepening financial inclusion, the Department of Posts (DoP) and BSE,…