- The global economy is experiencing its deepest recession since 1946.
- We project that world real GDP will decline by 4.8% in 2020, a far worse outcome than the 1.7% contraction in 2009 at the height of the global financial crisis.
- As countries remove restrictions on activities, the global economy is recovering.
- However, new outbreaks of the coronavirus disease 2019 (COVID-19) virus and the likelihood that a vaccine will not be widely available before mid-2021 make any assessment of the economic outlook challenging.
For further details see:
Global Recession Risks