Oil-price war pushing 2020 GDP into spitting range of global recession.

WASHINGTON -- World gross domestic product will expand by 2.2% in 2020, the team led by global economist Ethan Harris projected Tuesday, compared to their previous estimate of 2.8% growth. The bank slashed its forecast for US growth to 1.2% from 1.6%, while eurozone expansion sank to 0.2% from 0.6%. China's already faltering economy will bear the brunt of coronavirus' economic fallout in 2020, the economists wrote. Bank of America's latest estimate of 4.6% GDP growth in China is 0.6% lower than its projection from two weeks ago and lands at the bottom of major firms' expectations. The updated global growth estimate sits well below the 3.5% trend and pushes the world economy "in spitting range of a

typical global recession," the team wrote. The US economy will drag to nearly a complete halt in the second and third quarters before recovering near end of the year, they added...