Increase in COVID-19 Cases Spur Decline in Small Business Jobs and Wage Growth

Friday, January, 8, 2021
Rochester, N.Y. (January 8, 2021) – The latest Paychex | IHS Markit Small Business Employment Watch benchmark report reveals the effect of increasing COVID-19 cases on small businesses in the U.S. The Jobs Index shows a slowing of 0.24 percent in December to 94.06, a decrease of 4.18 percent from the year prior. A decline in weekly hours worked and hourly earnings growth decelerating to 2.63...
Key Indicators of Small Business Employment Show Stability Amid Recent Surge in COVID-19 Cases Across the U.S.

Tuesday, December, 1, 2020
Rochester, N.Y. (December 1, 2020) – The latest Paychex | IHS Markit Small Business Employment Watch shows that small business hiring remained largely consistent with the prior month, moderating slightly, down 0.03 percent nationally to 94.29. In November, hourly earnings growth stood at 2.76 percent, while weekly hours worked showed a decrease of 0.04 percent year over year.
Refining Sector Braces for “Great Shakeout” in Wake of COVID Demand Destruction Even as New Capacity Comes On

Tuesday, November, 10, 2020
Demand destruction wrought by the impacts of COVID-19 is precipitating rapid rationalization in the refining sector as the industry adjusts the level of refining capacity needed compared to what had been expected prior to the pandemic.
Small Business Jobs Index Moderates as COVID-19 Cases Rise Throughout the U.S.

Tuesday, November, 3, 2020
The report by Paychex and IHS Markit showed a 0.13 percent moderation in national job growth; however, job growth increased in the South for the second consecutive month
Engineering and Construction Costs Fall Again in October as COVID-19 Pandemic Keeps Demand for Nonresidential Construction Muted, IHS Markit Says

Wednesday, October, 28, 2020
WASHINGTON, D.C. (October 28, 2020) – Engineering and Construction costs fell in October, according to IHS Markit (NYSE: INFO) and the Procurement Executives Group (PEG). The current headline IHS Markit PEG Engineering and Construction Cost Index registered 47.4 in October. Both the materials and equipment and the sub-contractor portions of the index came in below 50, indicating respondents are ...
COVID-19 Collides with Geopolitics and Energy on The New Map by Daniel Yergin

Tuesday, September, 15, 2020
The COVID-19 pandemic has brought new disruption to a world already struggling over how to satisfy its energy needs, address climate change and cope with new power relationships in a complex new era of “Energy Transition,” according to a new book, The New Map: Energy, Climate and the Clash of Nations, by IHS Markit Vice Chairman Daniel Yergin.
Just Short of Normal: World Oil Demand Expected to Plateau Just Below Pre-COVID Levels Following Record Pace of Recovery

Tuesday, August, 25, 2020
World oil demand has grown at a record pace—by 13 million barrels per day in the last four months—since the bottom of the COVID-induced collapse in April. But that pace of growth is expected to taper off with global crude demand plateauing just below pre-pandemic levels, according to a new analysis by IHS Markit.
Longer-Term Outlook for Canadian Oil Sands Changes Little Despite “COVID-19 Shock” and Largest Annual Production Decline in 2020

Tuesday, July, 28, 2020
Canadian oil sands production is expected to decline by nearly 175,000 barrels per day (b/d) in 2020 as a result of COVID-19—the largest annual decline on record. However, the longer-term trajectory of oil sands production is expected to change little compared to pre-pandemic projections, according to a new 10-year forecast by IHS Markit (NYSE: INFO), a world leader in critical information, ana...
Houston Mayor Hon. Sylvester Turner: COVID-19 Resurgence “A Forest Fire Right Now;” Advocates a “Shutdown for a Couple of Weeks;” His Thoughts on Race Relations and Police Reform, and More

Tuesday, July, 14, 2020
The Mayor of Houston Hon. Sylvester Turner says that COVID-19 is now moving “at a much faster rate” than it did in March, April or May and that “I advocate a shutdown for a couple of weeks, two to three weeks as a matter of fact, to give us opportunity to take the energy away from this virus.”
Consumers Want Anti-microbial Coatings in New Vehicles in light of COVID-19 and are Willing to Pay, according to IHS Markit

Monday, July, 13, 2020
Anti-microbial coatings are a desired feature for high-touch surfaces inside a personal vehicle, including door handles, steering wheels, displays and consoles, according to a consumer survey conducted by IHS Markit (NYSE: INFO).
David M. Rubenstein Says the World Has “Changed Forever” and “We’re Going to be in a (non-technical) Recession for Quite a While;” Why He is “Reasonably Optimistic” for a COVID Vaccine but “We’re Likely to Have More and More of These Kinds of Things”

Thursday, July, 9, 2020
The Carlyle Group Co-Founder and Co-Executive Chairman, David M. Rubenstein, says in the latest edition of CERAWeek Conversations that the United States is going to be in a (non-technical) recession for “quite a while” and that it is “going to be a different economy” when it comes back; that “you can’t have free money forever” and that when interest rates go up from near-zero levels...
Walter Isaacson Interviews MIT President Emerita Susan Hockfield on Overcoming the COVID-19 “Diagnostics Deficit” and How Convergence of Biology and Technology Will Drive 21st Century Innovation

Tuesday, July, 7, 2020
Massachusetts Institute of Technology President Emerita Susan Hockfield says that the “diagnostics deficit”—the lack of sufficiently accurate, rapid and cheap diagnostics—continues to “haunt” her in the response to COVID-19 and why bioengineering will be the “technology story of the 21st century” in the latest edition of CERAWeek Conversations by IHS Markit (NYSE: INFO).
Construction Labor Costs Stabilize as Projects Halted Due to COVID-19 Resume Work

Wednesday, June, 24, 2020
NEW YORK (June 24, 2020) – Engineering and Construction costs fell in June, according to IHS Markit (NYSE: INFO) and the Procurement Executives Group (PEG). The current headline IHS Markit PEG Engineering and Construction Cost Index registered 49.0 in June, falling just short of the neutral mark 50; a neutral index reading indicates responders see no change in pricing. The materials and equipmen...
US Gasoline Demand More than “Halfway” Back from Pandemic-Induced Lows

Wednesday, June, 24, 2020
Gasoline consumption in the United States has just hit a big milestone; it is now more than halfway back to pre-COVID-19 levels as motorists get back on the road amid at least a partial recovery of the U.S. economy, according to OPIS, an IHS Markit (NYSE: INFO) company.
Former US Treasury Secretary Lawrence H. Summers: Economic Bounce Could Still Give Way to a “Slow Slog” Until Vaccine; Why Healthcare Investment is Vital and How the United States Could See a “Dramatic Period” for New Public Policies After COVID-19

Tuesday, June, 23, 2020
Former U.S. Secretary of the Treasury and current Charles W. Eliot University Professor and President Emeritus at Harvard University Lawrence H. Summers says that the United States needs to make the right investments in healthcare and that the current U.S. economic recovery could become “something much more horizontal before too terribly long unless we’re able to find a vaccine or therapy” ...
PETRONAS CEO Wan Zulkiflee on the “Obligation” to Develop All Forms of Energy; The Importance of Affordable Energy to Asia’s COVID-19 Recovery and Transforming PETRONAS Into a Digital Organization

Thursday, June, 18, 2020
WASHINGTON, D.C. (June 18, 2020) – PETRONAS President and Group CEO Tan Sri Wan Zulkiflee Wan Ariffin talks about how the SARS pandemic better prepared the company for COVID-19; his outlook for Asia’s “fragile” recovery and how oil and gas will remain a “very dominant” part of the energy mix in a new edition of the CERAWeek Conversations series.
US Senator Dan Sullivan on Why Banks Should Not “Discriminate” Against the Energy Sector; Relations with China; The Congressional Response to COVID-19 and How the United States is “Awakening” to the Need for an Arctic Strategy

Thursday, June, 18, 2020
U.S. Senator Dan Sullivan (Alaska) talks about the congressional response to COVID-19; the impact of the pandemic on oil prices and the wider economy and why Alaska is “the hottest play in the world right now” for energy in a new edition of the CERAWeek Conversations series.
The Big Fill: China’s Oil Inventories to Swell by 440 Million Barrels in First Half of 2020 – Largest Six Month Increase Ever

Monday, June, 15, 2020
IHS Markit estimates that China’s crude oil inventories will increase by 440 million barrels over the first six months of 2020.
ConocoPhillips Chairman and CEO on Bringing Production Back; Why US Oil Output is Unlikely to Return to Pre-COVID Highs; How Shale’s Era of “Growth for Growth’s Sake” Has Passed and Why More Industry Consolidation Could be On the Way

Tuesday, June, 9, 2020
ConocoPhillips Chairman and CEO Ryan Lance talks about how the company was able to weather the COVID-19 crisis without layoffs; current plans for bringing back shut-in production and the importance—now more than ever—of maintaining a strong value proposition “to bring investors back into the business” in the latest edition of the CERAWeek Conversations series.
Collapse in Demand Due to COVID-19 Weakens Engineering and Construction Equipment Prices in May, According to IHS Markit

Wednesday, May, 27, 2020
NEW YORK (May 27, 2020) – Engineering and Construction costs fell in May, according to IHS Markit (NYSE: INFO) and the Procurement Executives Group (PEG). The current headline IHS Markit PEG Engineering and Construction Cost Index registered 38.2 in May, a slight increase over last month’s figure of 34.9, but still well below the neutral mark of 50, indicating falling prices. The materials and...
Signs of Recovery: Chinese Oil Demand Near 90 Percent of Prior Year Levels

Friday, May, 22, 2020
China’s oil demand has continued a sharp rising trend since passing the nadir in February. After dropping in February by over 40 percent compared with a year earlier, the country’s oil demand for April reached 89% of the April 2019 level (approximately 12.7 million barrels per day versus 14.3 MMb/d) of the same period last year as lockdown measures are lifted and personal mobility and economic...
Turndown of US LNG is Underway

Friday, May, 22, 2020
A turndown in U.S. liquefaction capacity has begun amid oversupplied markets and low prices as result of the COVID-19 pandemic.
“Great Shut-in” Hits North America—U.S. Oil Producers to Halt 1.75 Million Barrels Per Day of Production

Thursday, May, 21, 2020
Due to the collapse in oil prices,, IHS Markit expects U.S. producers are in the process of curtailing about 1.75 MMb/d of existing production by early June due to operating cash losses, lack of demand and storage capacity, and an unwillingness to sell resources at the very low prices available since the onset of the COVID crisis.
Goldman Sachs Chairman and CEO David Solomon on How the COVID-19 Downturn is Different than the 2008 Financial Crisis; Why There is no “Normal” in Commodities Markets; Early Signs of Economic Recovery and Why Pandemic Will Change Capital Allocation

Thursday, May, 21, 2020
Goldman Sachs chairman and CEO David Solomon talks about the swiftness of economic relief by the world’s governments being “laudable”; why restoring balance to energy markets will take time and how the repercussions of pandemic will make capitalism “more inclusive” in the latest edition of the CERAWeek Conversations series.
Chevron Chairman and CEO Mike Wirth Says the Oil Market Appears to “Have Found a Bottom;” How COVID-19 Has Accelerated the Digital Transformation in Energy; and Why the Industry is Essential to Combatting the Virus

Thursday, May, 14, 2020
Mike Wirth, chairman of the board and CEO of Chevron discusses the operational challenges of the COVID-19 era, the roots of the virus-induced shock to oil prices and how petroleum-based and petrochemical products are on the front lines against the virus in the latest edition of the CERAWeek Conversations series.
U.S. Secretary of Energy Dan Brouillette on America’s Role in Securing International Agreements to Balance Energy Markets; How National Laboratories Are Supporting the COVID-19 Fight; and Why the U.S. Energy Industry Can “Bounce Right Back”

Thursday, May, 14, 2020
U.S. Secretary of Energy Dan Brouillette discusses how the United States emerged as a key broker in international agreements to stabilize energy markets following COVID-19 demand shock and a Saudi Arabia/Russia oil price war; his thoughts on leasing the U.S. Strategic Petroleum Reserve and COVID-19 stimulus for the U.S. energy industry in a new installment of the CERAWeek Conversations series.
The Long View: The Road to Oil Market Recovery Will Be Slow and Choppy

Tuesday, May, 12, 2020
Oil markets can expect more pain to come in the weeks and months ahead as they face an uphill battle back to “normal.” The raw market forces that have been unleashed—record demand destruction, record supply cuts, record inventory builds and even, for a moment last month, negative oil prices—will change the fundamentals of supply and demand for years to come.
The Great Shut-In of 2020 – Global Oil Production Now Expected to be Cut by as Much as 17 Million Barrels Per Day in Q2 2020

Friday, May, 8, 2020
The second quarter of 2020 will see the largest volume of liquids production cuts, including shut-in production, in the history of the oil industry.
Small Business Employment Declines, Reflecting the Ongoing Impact of the Coronavirus Pandemic

Friday, May, 8, 2020
Rochester, N.Y. (May 8, 2020) – The latest Paychex | IHS Markit Small Business Employment Watch shows a decrease in small business employment as the COVID-19 pandemic caused instability for employers nationwide. The jobs index declined 3.65 percent last month to 94.63, a level consistent with rates seen during the financial crisis. Hourly earnings growth rose slightly to 2.78 percent ($0.75) yea...
Global LNG Demand Resilient in Face of COVID-19

Thursday, April, 30, 2020
The COVID19 pandemic has led to lockdowns across the globe and severe downgrades for short-term macroeconomic indicators. A major re-evaluation is needed for the supply and demand of each traded commodity and LNG is no exception.
COVID-19 Impact Sends Engineering and Construction Costs Negative for First Time Since November 2016, IHS Markit Says

Wednesday, April, 29, 2020
NEW YORK (April 29, 2020) – After 41 consecutive monthly increases, Engineering and Construction costs fell in April, according to IHS Markit (NYSE: INFO) and the Procurement Executives Group (PEG). The current headline IHS Markit PEG Engineering and Construction Cost Index registered 34.9 in April, after staying barely neutral in March. The materials and equipment portion of the index came in a...
What is Lower Than Zero? COVID-19 Impacts Drive Oil Futures to the Lowest Price in History of the Industry – WTI Falls to -$37.63 Per Barrel

Tuesday, April, 21, 2020
Negative oil pricing has become a reality—and with it comes the lowest price (in real terms) in the history of the oil industry. The previous record-low price—East Texas crude at $0.10/bbl in 1931 ($1.70 in 2020 terms)—is now in distant second place as West Texas Intermediate (WTI) futures settled at negative 37.63/bbl today.
Global Light Vehicle Sales to Decline to 70.3 Million in 2020 due to COVID-19 Impact, According to IHS Markit

Tuesday, April, 21, 2020
Global light vehicle sales are forecast to be down 22 percent to 70.3 million units this year in the wake of COVID-19, according to the most recent analysis from IHS Markit (NYSE: INFO). Likewise, regional forecasts have been impacted substantially, and impacts are being felt as facilities across key regions remain closed, while recovery gets underway in others.
Global Commercial Vehicle Production Expected to be down 22 Percent in 2020 in Wake of COVID-19, According to IHS Markit Forecasts

Friday, April, 17, 2020
Global commercial vehicle production (GVW 4-8) volumes in 2020 compared to 2019 are forecast to be down 22 percent (more than 650,000 units) to 2.6 million units, in the wake of the COVID-19 pandemic, according to the most recent analysis from IHS Markit (NYSE: INFO). Individual regional forecasts are set to a downtrend, and supply chain impacts are being felt, as the consequences of the virus ha...
Exclusive – Dow Chairman and CEO Jim Fitterling on Why the COVID-19 Pandemic is Different Than Past Crises; When to Re-Open the Economy and the Renewed Appreciation for Plastics

Wednesday, April, 15, 2020
Jim Fitterling, chairman and CEO of Dow speaks about being at the helm of a global company manufacturing essential goods and materials in the COVID-19 era in an exclusive interview as part of the CERAWeek Conversations series.
COVID-19 Impact on Automotive R&D Activities

Wednesday, April, 15, 2020
SOUTHFIELD, Mich. April 15, 2020 - As part of our continuing research and analysis on the impact of COVID-19 on the global auto industry, the Automotive Supply Chain and Technology team at IHS Markit recently completed a survey among automakers and suppliers across all regions to assess the impact of COVID-19 on Research and Development, in particular:
Exclusive Interview—TOTAL Chairman and Chief Executive Patrick Pouyanné Speaks with IHS Markit Vice Chairman Daniel Yergin for New CERAWeek Conversations Video Series

Thursday, April, 9, 2020
Patrick Pouyanné, chairman and chief executive of TOTAL SA sits down for an exclusive interview with Daniel Yergin, IHS Markit vice chairman, available today at www.ceraweek.com/conversations.
“The Big Cut”: 36 Percent Spending Cut for North American E&P Companies in 2020

Wednesday, April, 8, 2020
The collapse in world oil demand and low prices are driving large spending cuts among oil companies around the world. The largest cuts in percentage terms so far are coming from North American E&P companies—oil and gas producing companies focused on the U.S. and Canada. According to IHS Herold calculations, North American E&P companies plan to reduce spending in 2020 by 36% relative to 2019 leve...
COVID-19 Has Turned Europe’s Carbon Market Upside Down

Tuesday, April, 7, 2020
In the past couple of weeks, Europe’s carbon price has undergone drastic change and is currently trading between €16 per metric ton and €18 per metric ton.
The Oil Price Collapse Will Change “Trajectory of North American Gas Supply”

Tuesday, April, 7, 2020
The trajectory of North American gas supply is set to change radically as a result of the fall in oil prices that has occurred due to COVID-19 and the breakdown in production cooperation between OPEC and Russia.
Nowhere To Go: 10 MMb/d of Oil Production Cuts Coming

Tuesday, March, 31, 2020
IHS Markit expects up to 10 MMb/d of world oil production will be cut or shut-in from April to June 2020 as oil storage fills up and output from financially strapped companies begins to fall. If oil cannot be sold or stored, it cannot be produced. Transportation constraints and lack of access to every available tank will prevent the utmost maximum level of storage capacity being reached.
Small Business Hiring and Wage Growth Slow as Impacts of the Coronavirus Pandemic Begin to Take Effect

Tuesday, March, 31, 2020
Rochester, N.Y. (March 31, 2020) – The latest Paychex | IHS Markit Small Business Employment Watch shows a slight decrease in both small business employment and wage growth in March. The report is based on data through March 19, a time when many businesses began to modify operations as a result of the COVID-19 outbreak. At 98.21, the jobs index slowed 0.11 percent from February and 0.57 percent ...
Power Demand Coming Back in China After Unprecedented Drop During COVID-19 Lockdown

Monday, March, 30, 2020
“While hotels and restaurants shuttered, electricity demand from the telecom and webservice sector increased 27% as home isolation policies drove up usage of technology such as mobile applications, internet and TV. We will likely see similar trends in other countries as lockdown policies expand.” – Xizhou Zhou, vice president and managing director of global power & renewables, IHS Markit
Vulnerability to COVID-19 May be Highest in Countries Not Yet Affected by Outbreak, According to New Index from IHS Markit

Monday, March, 30, 2020
IHS Markit (NYSE: INFO), a world leader in critical information, analytics and solutions, today launched its COVID–19 Country Vulnerability Index, ranking countries’ capacity to deal with the virus outbreak today as well as those expected to be exposed in the coming weeks and months.
LNG Deliveries to Europe are Set to Reach an All-Time High in March as Global Surplus Continues to Flow to the Region

Friday, March, 27, 2020
Total LNG deliveries to Europe are expected to reach nearly 11 million metric tons (MMt) —a 14% hike from the previous record set in December. The ongoing supply push into Europe comes just at the moment gas demand is collapsing at double digit rates.
COVID-19 Spares Nobody: Mobility Impacts of a Global Pandemic

Thursday, March, 26, 2020
What could the impact of the global spread of coronavirus disease (COVID-19) mean for mobility, in the short term and longer term?
Oil Storage Vulnerability: Which Countries Have the Least Capacity to Spare as Crude Demand Declines and Supplies Build Up?

Thursday, March, 26, 2020
Current global output levels cannot be sustained throughout the second quarter because oil storage capacity will fill up.IHS Markit estimates that the gap between world oil (liquids) supply and demand will be 7.4 MMb/d for Q1 2020 and 12.4 MMb/d in Q2 2020.
The Days the Earth Stood Still: Global Oil Markets Face Reckoning

Wednesday, March, 25, 2020
Light-speed oil surplus: blink and you’ll miss it. Last week marked the decisive inflection point for markets in terms of recognizing the scale of the looming surplus as major countries across Europe and North America shut down. Our latest estimates for global liquids demand point to a year-on-year contraction in the second quarter of 2020 of more than 14.0 MMb/d. With supply on its current traj...
Engineering and Construction Materials Prices Fall for First Time in 40 Months on Coronavirus Impacts, IHS Markit Says

Wednesday, March, 25, 2020
NEW YORK (March 25, 2020) – Construction costs increased once again in March, according to IHS Markit (NYSE: INFO) and the Procurement Executives Group (PEG). The current headline IHS Markit PEG Engineering and Construction Cost Indexregistered 50.2, a figure barely above the neutral mark. The last time the headline index registered an almost flat pricing was in November 2016. After 40 months, t...
Coronavirus Impact on Global Auto Demand

Wednesday, March, 25, 2020
The COVID-19 virus (coronavirus) epidemic is spreading rapidly, with a growing number of countries around the world announcing drastic measures to slow down the infection rates. Key European countries are intensifying already-implemented restrictions, while the United States is starting to implement more aggressive measures in various areas.Over the last few weeks, IHS Markit has been evaluating a...
Coronavirus Impact on European and North American Auto production

Friday, March, 20, 2020
The COVID-19 virus (coronavirus) epidemic is spreading quickly through-out the Western world. Major European countries have announced drastic measures to slow down the infection rates and the United States is starting to implement more aggressive measures in various areas.
The global economy is headed for recession: Updated IHS Markit Economic Forecast on Impact of COVID-19

Wednesday, March, 18, 2020
Disruptions to supply chains, demand, international trade flows, and travel, along with lockdowns and collapsing stock prices, resulting from the coronavirus disease 2019 (COVID-19) virus have dealt a heavy blow to the global economy.
Historic Surplus of Oil Will Push Prices Lower

Monday, March, 16, 2020
Extraordinary conditions can lead to startling outcomes. That is where the oil market now finds itself—in a truly extraordinary situation in what has been a transformative week for the global industry. There has been a dizzying drop in world oil demand and a dramatic pivot in Saudi oil production policy. This situation points to the possible buildup of the most extreme global oil supply surplus ...
APAC airlines dividends to be slashed due to COVID-19; impacts on dividends from cosmetics companies to be limited

Monday, March, 16, 2020
IHS Markit expects aggregate dividend payouts from airlines in APAC, under its coverage, to drop 20.7% to USD 1.4 billion in 2020 from a year ago amid stark earnings prospects over the short term. Airlines typically adhere to performance-linked dividend policies and they have been greatly hit by the coronavirus disease 2019 (COVID-19) outbreak.
Joint Statement by Mayor of Houston and CERAWeek Chairman on Cancellation of CERAWeek by IHS Markit 2020

Sunday, March, 1, 2020
A joint statement by the Mayor of Houston Hon. Sylvester Turner and IHS Markit Vice Chairman and CERAWeek Chair, Daniel Yergin on the cancellation of CERAWeek by IHS Markit 2020:
IHS Markit Announces Cancellation of Customer Events in Second Quarter 2020

Sunday, March, 1, 2020
IHS Markit (NYSE: INFO), a world leader in critical information, analytics and solutions, today announced that as part of its absolute commitment to the health and safety of its customers, partners and colleagues, and, given the situation regarding the coronavirus disease (COVID-19), it was necessary to cancel its large customer events in the second quarter of 2020.
CERAWeek by IHS Markit 2020 is Canceled

Sunday, March, 1, 2020
CERAWeek by IHS Markit 2020, scheduled to take place in Houston, March 9-13 is canceled.
Despite Coronavirus Impact, Engineering and Construction Costs Increased in February, IHS Markit Says

Wednesday, February, 26, 2020
NEW YORK (February 26, 2020) – Construction costs increased once again in February, according to IHS Markit (NYSE: INFO) and the Procurement Executives Group (PEG). The current headline IHS Markit PEG Engineering and Construction Cost Index registered 59.1 in February, marking the 40th consecutive month of construction costs increases. Both the materials and equipment and the sub-contractor labo...
Vienna Alliance Wavers in Face of Coronavirus Threat

Tuesday, February, 11, 2020
Back to work? This week was supposed to mark a return to something like normal for China. But even after a month of widespread quarantines and travel bans, the data doesn’t yet indicate a sustained slowdown in the outbreak. The number of cases doubled over the last week and topped 40,000 over the weekend, while the number of deaths has now exceeded the SARS pandemic. Many large companies in Chin...
Coronavirus couldn't come at a worse time for global shipping

Sunday, February, 9, 2020
Given the scale of the economic shock, the impact of the novel coronavirus on the global shipping industry is clearly negative. IHS Markit’s economics team expects that the coronavirus could reduce Chinese GDP growth by as much as 1% in 2020. Global real GDP would be 0.8% lower in the first quarter of 2020, and 0.5% lower in the second quarter before progressively recovering.
Impacts of Coronavirus Containment Effort Ripple Through Global Economy

Thursday, February, 6, 2020
Coronavirus will have a larger negative effect on the global economy than the SARS outbreak in 2003. At the time of SARS, China was the sixth largest economy, accounting for only 4.2% of world GDP. China is now the world’s second largest economy, accounting for 16.3% of world GDP. Therefore, any slowdown in the Chinese economy sends not ripples but waves across the globe.
IHS Markit Analysis and Commentary: Coronavirus Impact on Automotive Industry

Friday, January, 31, 2020
Besides the human tragedy, the Coronavirus is starting to severely impact the Chinese economy and in light of that, the automotive industry as well. This report has incorporated the most recent information available at the time of publishing.