By now everyone knows that the COVID-19 pandemic is a global health crisis that has triggered the most severe economic recession in nearly a century. The uncertainty is about what comes next and how wide and lasting the impacts will be.
In its June 2020 report here, the international OECD (Organization for Economic Corporation and Development) took the unusual step of modelling two equally likely scenarios – one in which the virus is brought under control via social distancing (purple line graphed below) and one in which a second global outbreak hits before the end of 2020 (red dotted line below), versus the rate of growth that was projected at the end of 2019 (green line). In either scenario, the hit to global sales/revenue is massive and lasting.
This 2.5-minute video report offers further detail on individual countries.
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