ECONOMY

How Hard Will GDP Be Hit in 2020?


by 
,
 
Jun 10, 2020

The OECD released its latest Economic Outlook today, revealing the projected impact the COVID-19 pandemic will have on global GDP in 2020. When assuming there will be no second wave of infections in 2020, gross domestic product is currently expected to be down by 6 percent on last year. Should we encounter a 'double-hit' scenario however, this is forecast to increase to a 7.6 percent drop.

Adding further context, the OECD writes: "The COVID-19 pandemic is a global health crisis without precedent in living memory. It has triggered the most severe economic recession in nearly a century and is causing enormous damage to people’s health, jobs and well-being."

As this infographic shows, when looking at the 'single-hit' scenario, no country is projected to be hit harder than the United Kingdom. There, a fall of 11.5 percent is being predicted. The initial epicenter, China, is expected to go far more unscathed with a decrease of just 2.6 percent. The United States is somewhat in the middle of the pack with a 7.3 percent reduction.

Infographic: How Hard Will GDP Be Hit in 2020? | Statista You will find more infographics at Statista

https://www.statista.com/chart/21961/oecd-gdp-growth-projections-20...

Views: 11

Reply to This

About

Suzie Nielsen created this Ning Network.

Latest Activity

Rich Knoch replied to Suzie Nielsen's discussion So now "It" is a Religion?
"Spot On!    It looks and feels like we are seeing the end of our Republic UNLESS there is…"
2 hours ago
LANYON posted Editorials
Friday
Rich Knoch replied to Norma J. Sears's discussion Biden says he got him fired.Plus" Docs prove Biden extortion
"Only a senile old moron like quid-pro-quo-Joe would brag about his "Ukraine Extortion…"
Jul 5
Norma J. Sears replied to Norma J. Sears's discussion Biden says he got him fired.Plus" Docs prove Biden extortion
"More on…"
Jul 5
Norma J. Sears replied to Norma J. Sears's discussion Biden says he got him fired.Plus" Docs prove Biden extortion
"Finally,  Biden's is being…"
Jul 5
LANYON posted Editorials
Jul 2
Shari Pearson replied to Hugh Akston's discussion An open letter to Mr. Adam Schiff:
"nicely done!!!!  if only he would read it and realize we're serious! (and hopeful!!!!)"
Jul 2
Rich Knoch replied to Suzie Nielsen's discussion Chop Seattle ENDED!!
"It would seem quite obvious, at least to me, that large crowds (100 to 10,000+) shouting…"
Jul 2

Help Support the Site


Your Contribution is Greatly Appreciated

Donate safely and securely through PayPal

© 2020   Created by Suzie Nielsen.   Powered by

Badges  |  Report an Issue  |  Privacy Policy  |  Terms of Service