Covid-19: Global economy likely to contract by 5.2% in 2020, says report

The Asia Pacific region is unlikely to shake off the economic effects before the end of 2020, it added

The global economy is likely to contract by 5.2 per cent in 2020 with the coronanvirus still spreading and the economic prospects of countries across the world looking muted, says a report.

According to Dun and Bradstreet's Country Risk and Global Outlook Report, that covered 132 countries, the wider global context remains sombre and the global economy will not reach pre-pandemic levels of activity again before 2022.

"D&B is currently forecasting that the global economy will contract by 5.2 per cent in 2020 - the biggest decline since the Second World War and a far stronger contraction than the 1.7 per cent