China’s leaders are bracing for a blow to first-quarter economic growth as the deadly coronavirus weighs on consumption, travel and manufacturing, with the Lunar New Year break extended until next week. AdvertisementUnderscoring concern among policymakers over the economic fallout from the outbreak, China’s banking and insurance regulator announced moves to help businesses affected by the crisis. The capital canceled many celebrations and closed many attractions, including the Forbidden City, because of the coronavirus outbreak. (Wu Hong/EPA/Shutterstock)The toll on travel from the coronavirus outbreak has already become evident in statistics released by the government on Sunday. Consumption, which is now under pressure from the outbreak, has become a far more important source of stable economic growth for the country.

Source: Los Angeles Times January 28, 2020 00:00 UTC