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India's then Prime Minister Manmohan Singh said that the government will take measures to ensure that the economic growth bounces back to 9%. [34] Nevertheless, India's overall growth of GDP in 2008-09 was 6.7%. [35] The Asian Development Bank predicted India to recover from weakening momentum in 4-6 quarters. [36]
The coronavirus is spreading faster in India than anywhere else in the world, with more than 3.3 million people already infected and related deaths at over 60,000. Recovery hopes dashed for India ...
However, after the announcement of the economic package in mid-May, India's GDP estimates were downgraded even more to negative figures, signaling a deep recession. (The ratings of over 30 countries have been downgraded during this period.) On 26 May, CRISIL announced that this will perhaps be India's worst recession since independence.
The COVID-19 recession was a global economic recession caused by COVID-19 lockdowns. 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.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.7% to its lowest since April 2020 as selling swept across emerging markets. Japan's Nikkei shed 2.1% and South Korean stocks fell ...
[1] [2] Asia is the fastest growing economic region, as well as the largest continental economy by both GDP Nominal and PPP in the world. [11] Moreover, Asia is the site of some of the world's longest modern economic booms. As in all world regions, the wealth of Asia differs widely between, and within, states.
A weak July jobs report just triggered one of the most well-known, and historically accurate, recession indicators: the Sahm Rule.But the rule’s inventor, Claudia Sahm, pushed back against 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".