Second Quarter Up to -40% GDP Growth From the Great Lockdown

The World is projected to have over $9 trillion in economic losses from the Great Lockdown. This assumes a relatively prompt and successful reopening of the world economy.

The Second quarter could see the US and other major economies with up to -40% GDP growth.

China’s GDP was negative in the first quarter this year.

The USA, Japan and European countries are all estimated to have -5 to -8% GDP in the first quarter.

JP Morgan has an estimate of -40% GDP growth in the second quarter of 2020.

Estimates for the UK are -25% GDP growth in the second quarter of 2020.

There are estimates that 2020 could see annual -14% GDP for the USA.

The IMF now forecasts the world will have -3% GDP growth for all of 2020. The GDP estimates and the economic damage will be worse for each month of full and significant lockdown.

SOURCES- IMF, Forbes, CNBC
Written By Brian Wang, Nextbigfuture.com