Financial holding company JPMorgan predicts that the pandemic coronavirus will lead the US economy and Europe into a deep recession which will be felt this summer.
Reported by Business Insider.
“The largest U.S. Bank expects the pandemic coronavirus will plunge the us and European economies into a deep recession this summer”, — stated in the message.
JPMorgan forecasts have changed significantly in recent weeks, since the outbreak of coronavirus, has spread worldwide, causing the collapse of the stock markets.
According to forecasts by JPMorgan, the US economy will shrink by 2% in the first quarter and 3% in the second, and the economies of the Euro zone by 1.8% and 3.3% respectively.