Goldman Sachs discovers 1% drop in global GDP because of Corona crisis. They saw a faster economic decline than 2008 global financial crisis. International GDP drops to one percent in no time. The number is not alarming but it can go up rapidly.
Global governments are taking unprecedented measures to tame coronavirus outbreak. The world economy is getting worse pretty quickly. It is threatening investors and business owners and employers.
“The coronacrisis — or more precisely, the response to that crisis — represents a physical constraint on economic activity that is unprecedented in postwar history,” the investment bank said this in a note.
It is surprising to see quickly dropping advanced economies. US economy has dropped by 3.5% in the United States. It is two-and-a-half times larger than the previous postwar record.