Coronavirus Could Reduce Global Output by $4.1 Trillion -ADB

The Asian Development Bank said Friday that output lost as a result of global measures taken to combat the coronavirus could total as much as $4.1 trillion this year, or just under 5% of global output.

In a new forecasts, the ADB estimated the economic toll of containment measures at between $2 trillion and $4.1 trillion. On March 5, before containment measures were implemented in Europe and the U.S., the ADB had estimated that lost output would total between $77 billion and $347 billion, or a maximum of 0.4% of global GDP.

"It should be noted that the estimate does not take into account such factors as supply disruptions, interrupted remittances, urgent health care costs, and potential financial disruptions, as well as the long-term effects on education and the economy," the ADB added.

Write to Paul Hannon at

  (END) Dow Jones Newswires
  04-03-20 0634ET
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