The world economy facing a historic fall

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Global economy posts historic plunge, with eurozone GDP plummeting and the US in recession, due to coronavirus “whose effects will be felt for decades”, according to the Director General of the World Health Organization (WHO). Faced with a pandemic that nothing seems to be able to stop, the WHO Emergency Committee met again on Friday, six months after declaring the global emergency. World economic statistics make you dizzy.

The euro area recorded a 12.1% drop in GDP in the second quarter, as a result of containment measures, the European Statistics Office announced on Friday. In France, it is 13.8%, in Spain 18.5%, in Germany, the economic engine of Europe, 10.14%.

Read: The French economy plunged into a severe recession in the second quarter

In the United States, containment caused a GDP collapse of 32.9% over the same period at an annualized rate. Compared to the second quarter of 2019, the decrease is 9.5%. Only encouraging element in this area announced Friday, Canada recorded in May a growth of 4.5% compared to April, after two months of sharp decline.

The pandemic has killed at least 673,909 people around the world, according to a report compiled by AFP from official sources on Friday at 11:00 GMT. The number of cases has exceeded 17 million. By reaching 46,000 dead, the (…) Read more on La Tribune.fr

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