The US’s estimate has been revised upwards, however, with the country seeing a steady decline in Covid-19 cases and deaths.
GlobalData now predicts the US economy will shrink by 5.0% across 2020, slightly less than the 5.3% predicted a week ago.
Latin American countries, where the numbers of Covid-19 cases are now surging, are also expecting an economic downturn. Mexico’s economy is expected to contract by 7.0% in 2020, Peru’s by 4.1% and Brazil’s by 4.0%.
China and India are among the few countries predicted to still see economic growth this year.
We are using exclusive dynamic figures provided by GlobalData analysts to track key economic indicators in major world economies hit by Covid-19. Deaths from the virus are plotted alongside the indexed performance of each country’s major stock exchange and the number of “active jobs” – jobs open for applications across all major industries. Figures are tracked daily from 1 March 2020.
This article is from the CityMetric archive: some formatting and images may not be present.
Join Our Newsletter
To understand the opportunities of the future, you need to understand how and why the world is changing. Monitor Daily covers the evolution of business, the movement of capital, the progression of technology and the media, and the changing world of how cities and countries interrelate – all delivered straight to your inbox every weekday.