Page 21 - Latest Updates on Recession
Coronavirus outbreak to leave a legacy of unprecedented global debt
Central banks and govts worldwide have unleashed at least $15 trillion of stimulus via bond-buying and budget spending to cushion the blow of a global recession tipped to be the worst since the 1930s.
 "Coronavirus outbreak to leave a legacy of unprecedented global debt")
Covid-19 to push UK economy towards deepest recession: Bank of England
It would also be the sharpest annual contraction since 1706, according to reconstructed Bank of England data going back to the 18th Century
 "Covid-19 to push UK economy towards deepest recession: Bank of England")
The current market rally may soon run out of steam: Unmesh Kulkarni
As of now, we expect the global recession will be deep but short, and the fiscal and central bank actions should mostly prevent a financial and economic meltdown
 "The current market rally may soon run out of steam: Unmesh Kulkarni")
Three factors that will shape the course of economic activities going ahead
According to Dun & Bradstreet's latest Economy Forecast, the changes in consumer behaviour will determine the segments that are likely to flourish after the pandemic is brought under control
 "Three factors that will shape the course of economic activities going ahead")
Coronavirus impact: Reinventing traditional business from the living room
Entrepreneurs from traditional business communities in the country are using their time in lockdown to embrace change ahead of an imminent recession
 "Coronavirus impact: Reinventing traditional business from the living room")
Global CEOs see U-shaped recession, fear death of some brands: Study
11 per cent of chief executives see coronavirus as a risk to the survival of their firm, while a further 40 per cent say the pandemic poses a severe threat.
 "Global CEOs see U-shaped recession, fear death of some brands: Study")
Statsguru: The trail of Covid-19 destruction and a resulting recession
According to the International Monetary Fund, the pandemic is expected to cause the biggest recession since the Great Depression
 "Statsguru: The trail of Covid-19 destruction and a resulting recession")
India could use 3-5% of GDP stabilising economy: World Bank economists
The lockdown of economies around the world causes a much sharper decline in economic activity than in normal recessions, says World Bank chief economist south Asia region, Hans Timmer
 "India could use 3-5% of GDP stabilising economy: World Bank economists")
Covid-19: Global economic contraction in H1 of 2020 inevitable, says IMF
The IMF managing director said the immediate priority was to minimise the pandemic's human toll and economic disruption
 "Covid-19: Global economic contraction in H1 of 2020 inevitable, says IMF")
Can use full $1-trillion war chest for coronavirus outbreak, says IMF
In view of coronavirus crisis, the spring meeting is being held virtually-- the first one in the history of IMF and the World Bank.
 "Can use full $1-trillion war chest for coronavirus outbreak, says IMF")
Five million more Americans seek unemployment benefits amid Covid-19 crisis
The Labor Department said 5.2 million new unemployment claims were filed last week, down from a slightly revised 6.6 million the week before
 "Five million more Americans seek unemployment benefits amid Covid-19 crisis")
Germany plunges into recession; virus-induced slump may last until mid-year
To cushion some of the blow, Berlin has passed a rescue package totalling 1.1 trillion euros
 "Germany plunges into recession; virus-induced slump may last until mid-year")
Coronavirus outbreak: A 21-day lockdown may have cost India Rs 8 trillion
The sectors that have been most impacted are transport, hospitality, and real estate
 "Coronavirus outbreak: A 21-day lockdown may have cost India Rs 8 trillion")
The wrong diagnosis
Calls for fiscal stimulus and monetary overreach will not help deal with the pandemic's economic consequences
 "The wrong diagnosis")
Covid-19: Poor countries staring at a debt crisis, says UN report
Many workers in the gig economy, dominated by service sector start-ups, are poorly protected against income losses in a recession
 "Covid-19: Poor countries staring at a debt crisis, says UN report")
Coronavirus may cause Africa's first recession in 25 years: World Bank
We project that economic growth in Sub-Saharan Africa will decline from 2.4 per cent in 2019 to -2.1 to -5.1 per cent in 2020, said World Bank
 "Coronavirus may cause Africa's first recession in 25 years: World Bank")
Covid-19 economic fallout may push half billion people into poverty: Report
The devastating economic fallout of the pandemic is being felt across the globe," said Jose Maria Vera, Oxfam International Interim Executive Director
 "Covid-19 economic fallout may push half billion people into poverty: Report")
Global trade likely to fall by 13-32% in 2020 amid Covid-19 outbreak: WTO
Drop in world commerce might be biggest since the Great Depression
 "Global trade likely to fall by 13-32% in 2020 amid Covid-19 outbreak: WTO")
Markets shed Covid-19 pessimism with biggest single-day gain since 2009
Sentiment improves as virus spread shows signs of slowing
 "Markets shed Covid-19 pessimism with biggest single-day gain since 2009")
Fitch slashes India growth forecast to 30-year low of 2% for FY21
On March 20, Fitch had projected India's GDP growth for 2020-21 at 5.1 per cent, lower than 5.6 per cent estimated in December 2019
 "Fitch slashes India growth forecast to 30-year low of 2% for FY21")
