US and China Quarterly Economic Update: Growth Stagnates in Both Countries in 4Q19

What's Inside

This report looks as the latest economic data from the US and China, showing how the cumulative effects of the trade dispute between the two countries—followed by a virus outbreak that remains ongoing—put downward pressure on both economies.

• US GDP growth has rebounded from its trough in 4Q18, and growth has levelled off.
• China’s GDP growth has been moderating in recent years, but in 2019 it took a hit from trade tensions. Now, China’s economy faces the ongoing coronavirus outbreak.
• If the outbreak is contained by the end of February, we expect it will shave around two points off first-quarter growth.