After a weak performance in 2019, the Thai economy is facing major challenges this year, as exports and tourism have severely declined

The repercussions of coronavirus have hit an already weakening economy.

A severe economic downturn and elevated risk of fiscal sustainability, but still resistant to major shocks.

The repercussions of coronavirus have hit an already weakening economy.

Private consumption and exports are expected to deteriorate sharply in 2020.

Exports are expected to contract in 2020 after two years of double-digit growth.

A sharp economic growth slowdown in 2020, with more downside risks on the horizon.

A deep recession remains a downside risk.

The economic contraction will lead to a sharp increase in business insolvencies.

A recession in 2020 despite massive stimulus measures.

The oil price has plummeted since the beginning of 2020 as the coronavirus is negatively affecting demand, while oil producers are entangled in a price war.

Total investment in domestic construction decreased 4% in 2019.

Lower global trade, ongoing trade policy uncertainty, less demand from China and the ICT downcycle have an immediate impact on Singapore's export-driven economy.

Construction is a significant contributor to the Australian economy, accounting for 8.1% of GDP.

Construction activity decreased towards the end of 2019 against the backdrop of weaker economic growth and political issues (shifting Brexit deadlines and a snap general election in December).

According to Statistics Poland, output of construction and assembly works increased 2.6% in 2019.

Dutch construction contributes approximately EUR 70 billion to, and accounts for 4.5% of GDP.

According to the national association of construction companies (ANCE), in 2019 construction investment increased 1.7% year-on-year, to about EUR 130 billion.

Growth of French GDP is expected to slow down further in 2020, and the outlook for the construction sector is rather subdued across all major segments.

Despite low confidence and modest 1.2% GDP growth in 2019, the construction sector performed quite well in terms of volume, and value added increased more than 2%.

Over the past years construction investment and valued added grew at a faster rate than GDP, benefitting from robust economic growth in Spain, increased foreign investment and low interest rates.

Corporate insolvencies are expected to grow 2.4% in 2020, a pronounced acceleration from the 1.4% increase recorded in 2019, largely resulting from the coronavirus outbreak

The coronavirus outbreak arrives at a time when global growth is already expected to slow and negatively impacts growth and insolvencies.

The herculean task of restructuring Argentina's debt is underway but the risk of a disorderly default remains high.

Despite increasing clouds on the horizon, there remain several bright spots for export opportunities in emerging markets.

US economic growth started to slow down last year, with GDP expected to expand 2.3% in 2019 and 1.7% in 2020.

Andrés Manuel López Obrador of the the leftist Morena party governs with a strong political mandate, as a Morena-led coalition has a majority in both houses of Congress.

As in 2019, Canada´s GDP growth is expected to remain below its long-term trend in 2020 due to sluggish domestic demand and lower export growth.

A hard Brexit and an escalation of EU-US trade disputes are downside risks for export-dependent food companies in the olives/olive oil and meat segments.

In the food retail sector smaller and independent businesses are struggling to remain profitable due to fierce competition and high price pressure.

Food sales growth continues, and the economic impact of the USMCA agreement on consumers and food supply chains is expected to be relatively small.

Despite efforts of food exporters to diversify shipments away from Britain a hard Brexit remains a major threat, potentially leading to more insolvencies.

In the Belgian food retail segment a comprehensive price war cannot be ruled out for the future, potentially forcing many businesses out of the market.

The ongoing drought has put additional pressure on margins industrywide due to higher input costs, and many businesses are struggling to break-even.

Larger players continue to push the supply chain on price and longer payment terms, adding cash flow challenges to mainly smaller food businesses.

While businesses´ profits are still stable and financials mainly solid, environmental issues pose a potential major challenge for agriculture and food.

Insolvencies are expected to increase by about 1%-2% in 2020, mainly in the troubled meat segment and the beverages and fruit & vegetables subsectors.

The ongoing concentration process in the domestic market will increasingly put small retailers with a poor capacity to generate cash flow under pressure.

A modest margin rebound, but commodity prices, price wars between retailers, changing consumer habits and difficulties in staff recruitment remain issues.

While several Brexit postponenements have provided food exporters with sufficient time to adapt, small retailers suffer from market price pressure.

Domestic metals and steel demand is increasingly affected by subdued investment in the construction sector and a marked demand slowdown from automotive.

Many businesses suffer from decreasing demand from key buyer sectors, high commodity prices, overcapacity, strong competition, and low profitability.

A modest increase in payment delays cannot be ruled out in the coming 12 months, but no substantial insolvency increase is expected for the industry.

The number of protracted payments and insolvencies was high in 2019, and is expected to increase further in 2020, mainly affecting private-owned producers.

Payment delays and business failures are expected to increase modestly in the coming twelve months, especially in the metal manufacturing segment.

For many businesses both demand and profit margins are expected to deteriorate further, with a moderate rebound expected in H2 of 2020 at the earliest.

The sector benefits from the lift of US import tariffs on Canadian steel and aluminium, with profit margins of steel businesses expected to improve again.

Demand for metals and steel is currently impacted by the slowdown in demand from automotive and reduced investment from other manufacturing industries.

Due to a high level of non-performing assets in the sector banks are now unwilling to provide credit to the industry, causing additional liquidity issues.

Lower demand coupled with decreasing sales prices and higher prices for iron ore have led to deteriorating margins of steel producers and distributors.