Friday, March 27, 2020

Global Recession Now Inevitable, Economist Intelligence Unit Says

The global economy now appears headed for negative growth in 2020 because of the Covid-19 pandemic, according to the Economist Intelligence Unit. What precisely that means for most communications service providers is not clear, however.


Growth Forecasts, G20 countries in 2020
Real GDP growth
(% in 2020)
Real GDP growth
(% in 2020)
Previous forecast
(before outbreak)
Argentina
-6.7
-2
Australia
-0.4
2
Brazil
-5.5
2.4
Canada
-1.3
1.8
China
1
5.9
France
-5
1
Germany
-6.8
0.9
India (2020/21 fiscal year)
2.1
6
Indonesia
1
5.1
Italy
-7
0.4
Japan
-1.5
0.4
South Korea
-1.8
2.2
Mexico
-5.4
1.1
Russia
-2
1.6
Saudi Arabia
-5
1
South Africa
-3
1.4
Turkey
-3
3.8
UK
-5
1.1
US
-2.8
1.7
Global (market exchange rates)
-2.2
2.3


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