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.
The USA, Japan and European countries are all estimated to have -5 to -8% GDP in the first quarter.
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
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
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