Pandemic To Shrink Global Economy By 5.2% This Year, World Bank Says, Confirming Deepest Recession Since WWII

U.N. News: Coronavirus: World Bank confirms deepest recession since World War Two
“The COVID-19 pandemic will shrink the global economy by 5.2 percent this year, representing the deepest recession since World War Two, and triggering a dramatic rise in extreme poverty, the World Bank said Monday in its latest Global Economic Prospects report. In rich countries, economic activity is expected to decline by seven percent as the coronavirus outbreak severely disrupts domestic demand and supply, trade, and finance activities, it said…” (6/8).

Additional coverage of the World Bank report is available from Bloomberg, CNN, and Wall Street Journal.

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