Global economy expected to have 4.4% contraction in 2020
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Update time : 2020-10-12 22:53:34
According to a report from Germany’s ifo Institute and the European EconPol Europe, the global economy was expected to have a 4.4% contraction this year.
Among the major economies in the world, only China was foreseen to have positive economic growth with a rate of 2.3%.
The report also showed that the US’ economy will have a shrinkage of 6.5% this year and the EU countries will also be facing a drop of 8.4% decrease in the economy.
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