Coronavirus latest: German recession ‘probable’ this year

March 10, 2020

Over 114,00 cases of coronavirus, or COVID-19, have been confirmed worldwide
Italy has imposed travel restrictions on the entire country to stop the spread of the disease
A leading German research institute has predicted the country will fall into a recession this year

Read more: What you need to know about the coronavirus

Updates in Universal Coordinated Time (UTC/GMT)

02:08 South Korea, one of the countries most affected by the outbreak, reported fewer than 150 new daily cases for the first time in two weeks. On Monday, the country confirmed a total of 131 new cases.

01:55 Brazilian President Jair Bolsonaro has called the coronavirus threat “overstated.”

“In my opinion, that virus’s destructive power is overstated. Maybe it is even potentially being exaggerated for political reasons,” Bolsonaro said.

The far-right leader said that the recent fall of the world markets “basically has to do with the price of oil, which sank 30 percent, and with the coronavirus issue, too.”

01:45 The Central American nation of Panama has confirmed its first case of coronavirus.

01:26 A nursing home in Seattle, Washington at the center of the outbreak in the US has reported 31 more confirmed cases. Since February 19, 26 of the home’s 120 patients have died. Autopsies have confirmed that at least 13 of the deaths were due to coronavirus.

01:23 For the third day in a row, China has reported no new local coronavirus transmissions.

01:20 South Korea has reported 35 new cases of coronavirus, bringing the national total to 7,513.

01:12 Mongolia has confirmed its first case of coronavirus — a French national working in the country.

00:22 In mainland China, where the outbreak began, 80,754 people have been diagnosed with coronavirus thus far. Nearly 60,000 have already recovered. Nine new cases were confirmed on the mainland on Monday, compared to 40 the day before.

00:12 The head of the German Institute for Economic Research expects coronavirus to bring on a recession in Germany this year.

“It’s probable that Germany will experience a recession this year — employment is going to suffer visibly,” the institute’s chief economic forecaster Claus Michelsen told German daily Berliner Morgenpost.

kp/rc (AP, AFP, dpa, Reuters)

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