The global economy, which has plunged into a severe contraction, will shrink by 5.2 per cent this year due to the massive shock of the coronavirus pandemic and the shutdown measures to contain it, the World Bank said on Monday.
The Indian economy is likely to slip into recession in the third quarter of this fiscal as loss in income and jobs and cautiousness among consumers will delay recovery in consumer demand even after the pandemic, says a report. According to Dun & Bradstreet's latest Economic Observer, the country's economic recovery will depend on the efficacy and duration of implementation of the government's stimulus package.
The UK faces a "significant recession", Chancellor of the Exchequer Rishi Sunak has warned after figures showed the country's economy shrank by 2 per cent in the first three months of the year due to the impact of the coronavirus-induced economic lockdown.
The U.S. unemployment rate hit 14.7% in April, a level last seen during the Great Depression, as 20.5 million jobs vanished in the worst monthly loss on record — stark evidence of how the coronavirus has brought the economy to its knees.
The IMF on Tuesday projected a GDP growth of 1.9 per cent for India in 2020, as the global economy hits the worst recession since the Great Depression in the 1930s due to the raging coronavirus pandemic that has nearly stalled all economic activities across the world.
Telangana Chief Minister K. Chandrashekhar Rao on Saturday urged Prime Minister Narendra Modi to announce Rs 10.15 lakh crore Quantitative Easing to counter what he called the impending recession.
To accommodate this surge, the IMF is deploying total financial capacity of $1 trillion, Georgieva said, emphasising that "we are determined to use as much as necessary in protecting the economy."
BJP Ballia MP, Virendra Singh Mast has said that if the nation was going through a recession then people wouldn't have been buying clothes, pants and pajamas.
Steps from Hong Kong’s main tourist strip, Ashfaqur Rahman’s tailor shop usually is a mainstay for tourists dropping in to peruse neatly stacked rolls of fabric and get measured for custom-made suits. Not anymore. The business has dried up since anti-government protests began in early June in the Asian financial center.
Priyanka Gandhi has launched a scathing attack on the Modi government vis-a-vis economic slowdown. "The economy is falling into a deep abyss of recession. The sword is hanging on the livelihood of lakhs of Indians," Priyanka Gandhi said.
Employees of all public and private sector banks wore black badges to work as a mark of protest to the government's decision.
Gold prices on Thursday jumped Rs 250 to breach the record Rs 40,000 per 10 gram levels for the first time at the bullion market here on strong demand from investors amid growing fears of a global economic slowdown.
With two children and his wife to support, the 35-year-old diamond artisan is clueless about his sustenance and has been on a job search for two months. He lost his job after serving for six years at a diamond factory, which now he doesn't want to name, saying it will bring bad luck.
The financial markets signalled the possibility of a U.S. recession this week, sending a jolt of anxiety to investors, companies and consumers. That’s on top of concerns over Trump’s plans to impose punishing tariffs on goods from China and word from the United Kingdom and Germany that their economies are shrinking.
According to the survey, the median forecast for gross domestic product growth in the last quarter of 2020 was 1.9 per cent. That would be a big drop from the most recent estimate of current US economic growth - 3.1per cent in the first three months of 2019.
According to the Federal Reserve, country's 35 biggest financial institutions would be able to lend to households and businesses.
The National Association for Business Economics in its quarterly outlook says that its panel of 45 economists "believe the positive effects from the Trump tax cuts will quickly fade after the first two years."
Berlin: German Chancellor Angela Merkel on Tuesday warned that Europe could slide back into recession, media reported."If we do not want to be left behind by the growth markets, then Europe has to hurry up,"
Ljubljana, Slovenia, Oct 15 : Andrej Plut has always thought he was fortunate to live in Slovenia, at one time the most prosperous of the former republics of Yugoslavia and a star among the eastern
Panaji, Oct 14: With chances of revival of mining industry in Goa in near future appearing remote, the downturn has begun showing its impact on those who are dependent on the sector for survival.People living
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