× Help support our COVID-19 coverage We're providing access to COVID-19 articles for free. Log in Sign up Become a MemberUNITED NATIONS (AP) — The United Nations forecast Wednesday that the COVID-19 pandemic will shrink the world economy by 3.2% this year, the sharpest contraction since the Great Depression in the 1930s. In January, before COVID-19 became a pandemic, the U.N. had forecast a modest acceleration in growth of 2.5% in 2020. “With the large-scale restrictions of economic activities and heightened uncertainties, the global economy has come to a virtual standstill in the second quarter of 2020," he said. The 3.2% contraction in the global economy forecast by the U.N. is slightly higher than the 3% plunge forecast by the International Monetary Fund in mid-April.

Source: Daily Sun May 13, 2020 17:37 UTC