Blindsided: how coronavirus felled the global economy in 100 days

JP Morgan says Chinese GDP might have contracted by 40% in the first three months of 2020. Morgan Stanley pencils in a 30% drop in US output in the second quarter. The numbers are mindboggling, but in a way the pictures of Times Square in New York City and St Mark’s Square in Venice tell […]

RBI Monetary Policy report: Post-COVID-19 estimates suggest global economy could slump into recession in 2020

“The oppressive force of the novel coronavirus (COVID-19) on weak or moderating high-frequency indicators of activity, barring agriculture, indicates that the implicit real GDP growth for Q4:2019-20 in the NSO’s data release could be undershot by a fair margin. In fact, the widening incidence of COVID-19 in March 2020 may produce downward pulls to Q4 […]

IMF chief flags up grim global economic forecast

“There is no question that 2020 will be exceptionally difficult. If the pandemic fades in the second half of the year – thus allowing a gradual lifting of containment measures and reopening of the economy – our baseline assumption is for a partial recovery in 2021. But again, I stress there is tremendous uncertainty around […]

Goldman Sachs revised global growth forecast for 2020 to -2% and that of US to -6%: Prachi Mishra

Goldman Sachs has come out with one of the most cautioning and warning notes we have read in recent times which makes a case that India’s growth may fall sub 2%. What are the indicators you are looking at which have turned green to amber or even red that is leading to that kind of […]

Spain coronavirus travel update – hotel bosses worry they might not open again until 2021

“What we do know is that if we do not learn from best practices and take care of this valuable sector, when the time is right there will be nothing to reactivate and the social and economic impact will take years to recover.”

Global stocks jump on Fed stimulus, hopes pandemic is slowing

“We’re probably on pace to lose more jobs in April alone than we lost during the entire Great Recession,” said Dante DeAntonio, senior economist at Moody’s Analytics in New York. “It’s important to keep reminding ourselves how unprecedented this is,  even though it seems like everyone has become numbed to it after just three weeks […]

Factbox: Global economic policy response to coronavirus crisis

LIQUIDITY OPERATIONS AND FUNDING – 1.2 trillion reais ($231 billion) central bank programme to inject liquidity through purchases of bank loan portfolios; new rules allowing banks to offer firms and households increased loans and better terms; central bank intervention in FX markets and repurchases of dollar-denominated sovereign bonds.

Global coronavirus battle rages on amid ‘glimmers of hope’

By Dan Barry The world began this week to see small but encouraging signs that concerted efforts to drastically change human behavior — to suspend daily routines by staying at home — are slowing the insidious spread of the novel coronavirus, which has killed tens of thousands and sickened more than 1 million others across […]

Covid-19: World economy will go into recession with likely exception of India, China, says UN report

UNITED NATIONS: The world economy will go into recession this year with a predicted loss of trillions of dollars of global income due to the coronavirus pandemic, spelling serious trouble for developing countries with the likely exception of India and China, according to a latest UN trade report. With two-thirds of the world’s population living […]

India’s GDP for FY21 projected at 4.8%, COVID-19 to have adverse economic impact globally: UN report

“As the COVID-19 pandemic is still evolving rapidly and showing no signs of abating as of March 31, 2020, its negative impacts on economic performance of countries and territories in Asia and the Pacific will likely be very significant, a disclaimer accompanying the GDP chart for economies in the Asia and Pacific in the report […]