Photo: Aly Song / Reuters
Outbreak of pneumonia caused by a new coronavirus in Chinese, will lead to a decline in consumer spending in China. This opinion was expressed by analysts of the Agency S&P Global Ratings. This sector is one of the most important engines of economic growth in the country, reports “Interfax”.
Chief economist for the Asia-Pacific region S&P Sean Roche pointed out that the outbreak came in the period of celebrating the New year according to the lunar calendar. It was at this time the Chinese are actively spending money on gifts, entertainment and travel.
S&P highlighted some of the most vulnerable sectors: it is not only consumer spending, but also on tourism, investment and industrial production. Specific predictions economists do not have: it all depends on how high will be the mortality rate from the virus.
Earlier in January, Goldman Sachs experts predicted that due to the spread of the virus will drop the price of oil. In the end, Brent fell more. than two percent and world markets was in a fever.
According to the latest 2019 coronavirus-nCoV has infected 876 people, killing 26 patients. Most of the infected are in China, however, a few patients were identified outside the country: Japan, South Korea, Thailand, USA.
Video, photo All from Russia.