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Forecasters Downgrade U.S. Economic Outlook as Virus Spreads

  • Bank of America, JPMorgan reduce forecasts for U.S. growth
  • Analysts putting down markers ahead of Fed officials
U.S. To Expand Coronavirus Testing After Delays In Surveillance
Photographer: Sam Hall/Bloomberg

It only took a week of turmoil in financial markets to convince forecasters the outlook for the U.S. economy this year has soured.

Wall Street analysts began downgrading projections for economic growth as jitters over the coronavirus outbreak took hold and the stock market endured its worst week since the financial crisis. While the spread of the virus in the U.S. has so far been limited and its trajectory is still uncertain, disruptions in the global economy may be enough to dent domestic economic activity in 2020, they said.