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AKA The Dragon
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Swine flu sweeping world, says WHO
18 July 2009 | 05:51:09 AM | Source: AAP

The World Health Organisation says swine flu has swept the globe at "unprecedented speed", and a study warns that the pandemic could tip the world into deflation and delay the economic recovery.
"In past pandemics, influenza viruses have needed more than six months to spread as widely as the new H1N1 virus has spread in less than six weeks."
In Britain, a study by Oxford Economics - a forecasting consultancy whose clients include multinational corporations and government - said recovery could be delayed by a couple of years due to the swine flu pandemic.

"Although so far the social and economic impacts have been very small, if infection rates were to rise much further, significant costs could be expected," it said.

Comparing the outbreak to the 2003 SARS crisis, it said that outbreak had occurred at a time of strong economic growth. Both consumption and growth had returned as soon as the epidemic was considered under control.

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http://www.sbs.com.au/news/article/1053262/Swine-flu-sweeping-world,-says-WHO
 
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AKA The Dragon
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Discussion Starter #2
Swine flu looms over global economic recovery
By Veronica Smith (AFP) – 1 day ago
WASHINGTON — Markets around the globe have started to celebrate the first signs of economic recovery, but experts have warned that a possible resurgent swine flu could still take a toll of productivity and financial systems.
Faced with the unpredictable nature of flu viruses, economists say it is difficult to assess the impact of swine flu on the delicate global economic recovery taking shape amid the worst world recession since World War II.

"As the severity of A(H1N1) is so far not severe, we would not expect the magnitude of the shock to the economy to be large relative to GDP (gross domestic product)," said Simonetta Nardin, a spokeswoman at the International Monetary Fund.

"The main threat to financial stability is the risk that high levels of absenteeism could lead to breakdowns in the functioning of key financial systems," she told AFP.

School closures would exacerbate absenteeism, further reducing workplace productivity.
http://www.google.com/hostednews/afp/article/ALeqM5geEjaF39V76YEiLV-Ig8RwYEPaeQ
 
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