Outbreak's global economic cost may top $4 trillion [ABC News]
Southwest Airlines Company (LUV)
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Source: ABC News
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments on Friday related to the global economy, the work place and the spread of the virus.————————————$4 TRILLION BILL FOR CRISIS? The Asian Development Bank forecasts that the coronavirus pandemic will cost the world economy as much as $4.1 trillion, or nearly 5% of all economic activity.The regional lender said Friday that growth in developing Asia would likely fall to 2.2% in 2020 from 5.2% last year. China, the region’s biggest economy, saw double-digit contractions in business activity in January-February and will likely see growth fall to 2.3% this year from a three-decade low of 6.1% in 2019, the ADB said. China's losses from shutdowns and other costs due to the pandemic could add up to $692 billion if containment efforts drag on. But the ADB estimated that growth would bounce back next year to more than 7%.In Europe, a key gauge of activity in manufacturing an
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LUV
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- 10/24/24 - Beat
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Sec Filings
- 11/12/24 - Form SCHEDULE
- 11/7/24 - Form 8-K/A
- 11/5/24 - Form 3
- LUV's page on the SEC website