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Coronavirus pandemic walloped global economy, but OECD says it's not as bad as it first feared

2 days ago   |   By Chicago Tribune

The Organization for Economic Cooperation and Development said in a report that the world's gross domestic product is projected to decline by 4.5% this year - less than the 6% plunge it had predicted in June.
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The global economy will recover from COVID-19 faster than expected, but new stimulus is still needed, OECD says

The global economy will recover from COVID-19 faster than expected, but new stimulus is still needed, OECD says

2 days ago   |   By Business Insider

Summary List Placement
The world economy is on track to recover faster from coronavirus fallout than initially expected in 2020, the Organization for Economic Co-operation and Development said Wednesday.
The organization lifted its official outlook for global growth while noting the rebound is slowing and requires steady monetary and fiscal policy support. The OECD now expects the world economy to shrink by 4.5%, an improvement from its June forecast of a 6% contraction.
Group of 20 economies are projected to slightly outperform the rest of the world with a 4.1% slide. China drove much of...
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Unprecedented decline: Global economy expected to contract 4.5% this year

Unprecedented decline: Global economy expected to contract 4.5% this year

2 days ago   |   By RT

After collapsing in the first half of 2020, global economic output is recovering following the easing of measures to contain COVID-19 and the initial re-opening of businesses. However, a sharp annual decline is still expected.
That's according to a new report published on Wednesday by the Organization for Economic Cooperation and Development. It said that the world economy will contract by 4.5 percent this year, which is an upward revision from a six percent fall estimate made in June.
“The drop in global output in 2020 is smaller than expected, though still unprecedented in recent...
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The OECD warns the world economy will collapse by 4.5% this year, in its worst slowdown since World War Two

The OECD warns the world economy will collapse by 4.5% this year, in its worst slowdown since World War Two

2 days ago   |   By Business Insider

Summary List Placement
The world economy will collapse by 4.5% this year despite a swift recovery from the COVID-19 pandemic, according to the Organization for Economic Cooperation and Development.
The OECD's latest economic outlook is less negative than expected, but the organization said 2020 will still mark the worst contraction in growth since World War Two.
China, the US, and Europe are likely to perform better than expected, while many countries are still combating the virus.
"Without continued government support, bankruptcies and unemployment could rise faster than warranted and...
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