Major economies shrink amid COVID-19 pandemic

Paris, September 14

A worldwide improvement company stated the world’s 20 main industrialised nations have seen their economies shrink in an unprecedented method between April and June amid the COVID-19 pandemic.

The Paris-based Organisation for Economic Cooperation and Development stated Monday that the gross home product dropped by a document 6.9% within the second quarter of this yr within the G-20 space.

This organisation famous that it’s “significantly larger” than the 1.6% fall recorded within the first quarter of 2009 on the top of the monetary disaster.

Between April and June this yr, the GDP most dramatically fell by 25.2 in India, by 20.4% within the UK and by 17.1% in Mexico. It plunged by 9.1% within the United States.

The OECD stated that China was the one G-20 nation recording development (11.5%) in that interval. The organisation stated that displays “the earlier onset of the pandemic in this country and subsequent recovery”. AP


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