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.

Written By Brian Wang,

Subscribe on Google News