Premium
World economy
Publication year - 2020
Publication title -
economic outlook
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.1
H-Index - 8
eISSN - 1468-0319
pISSN - 0140-489X
DOI - 10.1111/1468-0319.12482
Subject(s) - economics , shock (circulatory) , pandemic , covid-19 , gross domestic product , world economy , coronavirus , real gross domestic product , economy , outbreak , development economics , monetary economics , macroeconomics , political science , medicine , disease , pathology , infectious disease (medical specialty) , law , virology
With much of the global economy now in some form of lockdown due to the coronavirus pandemic, we expect world GDP to contract by about 7% in H1 2020. Activity is expected to rebound sharply in H2, but even so the severity of the shock is likely to lead to a permanent GDP loss for the global economy. Over 2020 as a whole, we now expect GDP to shrink by 2.8%, compared to our forecast for a 2.5% rise three months ago, before the coronavirus outbreak became widespread.
Accelerating Research
Robert Robinson Avenue,
Oxford Science Park, Oxford
OX4 4GP, United Kingdom
Address
John Eccles HouseRobert Robinson Avenue,
Oxford Science Park, Oxford
OX4 4GP, United Kingdom