Published: March 27 Number of Pages: 3 Content Type: Report, Insight Delivery: Email of PDF file
To respond in a timely fashion to the rapid spread of the coronavirus disease 2019 (COVID-19) virus and the ensuing economic carnage, IHS Markit is producing interim, top-line forecasts for the US and global economies, along with our regular monthly forecasts. This interim global forecast is the second prepared in March and is much more pessimistic than our 17 March regularly scheduled outlook. It is based on major downgrades to forecasts of the US economy and oil prices (which we expect to fall to USD10/barrel in May). The risks remain overwhelmingly on the downside and further downgrades are almost assured.