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Brian Sozzi. January 20, 2023 at 8:47 AM. DAVOS, Switzerland — At this year's World Economic Forum, talk about a recession among top business leaders was flowing as freely as the high-calorie ...
The global war against inflation has largely been won — and at surprisingly little cost to economic growth, the International Monetary Fund declared Tuesday. In its latest assessment of the ...
The Philippine economy fell into recession for the first time in 29 years with a record slump in the second quarter, as strict lockdown measures ravaged economic activity and prompted the ...
The International Monetary Fund defines a global recession as "a decline in annual per‑capita real World GDP (purchasing power parity weighted), backed up by a decline or worsening for one or more of the seven other global macroeconomic indicators: Industrial production, trade, capital flows, oil consumption, unemployment rate, per‑capita investment, and per‑capita consumption".
The recession began in most countries in February 2020. After a year of global economic slowdown that saw stagnation of economic growth and consumer activity, the COVID-19 lockdowns and other precautions taken in early 2020 drove the global economy into crisis. [1][2][3][4] Within seven months, every advanced economy had fallen to recession. [5 ...
The ILO estimates global unemployment to rise between 5.3 million ("low" scenario) and 24.7 million ("high" scenario) from a base level of 188 million in 2019 as a result of COVID-19's impact on global GDP growth. By comparison, global unemployment went up by 22 million during the Great Recession. Women informal workers, migrants, youth and the ...
The IMF sees the global economy expanding 3.2% this year, as it forecast in July. But the agency upgraded its forecast for US growth to 2.8% — 0.2 percentage points higher than projected three ...
The 'UN Comprehensive Response to COVID-19' [1][2] is a policy document issued by the United Nations Secretary-General on 25 June 2020, which aims to coordinate the United Nations System to "save lives, protect societies, recover better". The policy document sets out what must be done to deliver a global response "that leaves no-one behind ...