1/ World Bank: Current forecasts suggest that the coronavirus (COVID-19) global recession will be the deepest since World War II, with the largest fraction of economies experiencing declines in per capita output since 1870.
blogs.worldbank.org/opendata/under…
blogs.worldbank.org/opendata/under…
2/ The global economy had 14 global recessions since 1870: 1876, 1885, 1893, 1908, 1914, 1917-21, 1930-32, 1938, 1945-46, 1975, 1982, 1991, 2009, 2020.
COVID-19 recession will be the deepest since 1945-46-more than twice as deep as recession after 2007-09 global financial crisis.
COVID-19 recession will be the deepest since 1945-46-more than twice as deep as recession after 2007-09 global financial crisis.
3/ In 2020, the highest share of economies will experience contractions in annual per capita gross domestic product (GDP) since 1870.
The share will be more than 90% higher than the proportion at the height of the Great Depression of 1930-32.
The share will be more than 90% higher than the proportion at the height of the Great Depression of 1930-32.
4/ Unprecedented weakening in services-related activities, global trade & oil consumption record drops
Global unemployment rate likely climb to its highest level since 1965
All emerging/developing economies will see declines in regional per capita output for 1st time since 1960
Global unemployment rate likely climb to its highest level since 1965
All emerging/developing economies will see declines in regional per capita output for 1st time since 1960
