Moody's slashes economic and oil forecasts again [Reuters]
S&P Global Inc. (SPGI)
Last s&p global inc. earnings: 4/28 07:10 am
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Source: Reuters
Moody's slashes economic and oil forecasts again LONDON, April 28 (Reuters) - Credit rating agency Moody’s slashed its global economic and oil forecasts again on Tuesday, predicting ongoing coronavirus lockdowns would now see the G20 group of major economies contract 4% this year before bouncing back 4.8% in 2021. The cuts by Moody’s, though more narrowly-focused, look even more pessimistic than the -3% worldwide drop forecast by the International Monetary Fund this month, and the 2.4% contraction estimated by rival rating firm S&P Global. Moody’s individual country forecasts included a -5.7% slump in the United States, -6.5% plunges in both Japan and the euro zone and -7% and -8.2% ones in Britain and Italy. China is expected to manage just 1% growth though next year could see a strong 7.1% rebound. “There are significant downside risks to our forecasts in the event that the pandemic is not contained and lockdowns have to be reinstated,” Moody’s said in a report. Even without longer-
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