Coronavirus: World GDP to remain far below pre-virus projections – Deutsche Bank
|
Economists at Deutsche Bank have updated their prospects for the global economy and look gloomier.
Key quotes
“We see world GDP falling 11% below its end-2019 level in Q2, and recovering to about the end-2019 level by the end of next year.”
“The projected drop this year is 6%, compared with the consensus projections of half that amount or less and a previous record decline of 0.1% during the GFC.”
“This economic shock, while falling well short of the Great Depression thanks to massive monetary and fiscal policy intervention, nevertheless results in immense increases in unemployment that will put a major strain on national treasuries for some time to come.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.