FXStreet reports that the great lockdown recession, as termed by the IMF, tips a global recession of 3% for 2020, which will be worse than during the Global Financial Crisis (GFC), per OCBC Bank.
"The worst hit economies from the Covid-19 pandemic include the US at -5.9% (2021: 4.7%), Euro area at -7.5% (2021: 4.7%), Japan at -5.2% (2021: 3.0%) and UK at -6.5% (2021: 4.0%)."
"In Asia, China and India will see 2020 growth sink to just 1.2% and 1.9% respectively, before rebounding to 9.2% and 7.4% in 2021, whilst ASEAN-5 will shrink 0.6% (2021: 7.8%)."
"Global trade growth will also contract 11.0% this year, with the epicentre of the demand shock concentrated in the advanced economies as exports and imports slump 11.5% and 12.8% respectively."
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.