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The IMF projects a "more gradual" global recovery than previously forecast - June 24, 2020

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  • The IMF projects a "more gradual" global recovery than previously forecast - June 24, 2020


    IMF slashes forecast for the global economy, warns of soaring debt levels and unemployment

    “The steep decline in activity comes with a catastrophic hit to the global labor market,” the IMF said, predicting 300M job losses in the second quarter.

    snip

    The IMF now estimates a contraction of 4.9 percent in global GDP (gross domestic product) in 2020, lower than the 3 percent drop it predicted back in April.

    “The COVID-19 pandemic has had a more negative impact on activity in the first half of 2020 than anticipated, and the recovery is projected to be more gradual than previously forecast,” the IMF said Wednesday in its World Economy Outlook update



    https://www.nbcnews.com/business/bus...evels-n1231986
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