Page 18 - Latest Updates on Recession
Covid-19 deepens Argentina's economic crisis; WB predicts 7.3% fall in GDP
The World Bank foresees a 7.3% contraction in Argentina's gross domestic product this year, one of the worst recessions in Latin America
 "Covid-19 deepens Argentina's economic crisis; WB predicts 7.3% fall in GDP")
UK economy shrinks by record 20.4%; BoE warns of worst recession in 300 yrs
In a slump that dwarfed previous downturns in Britain's recent history, the Office for National Statistics also said the economy shrank by 24.5% compared with April last year
 "UK economy shrinks by record 20.4%; BoE warns of worst recession in 300 yrs")
ECB prepares more aid for euro zone economy to help Covid-induced recession
The ECB makes it clear it will do its part and the severity of the recession argues for earlier action
 "ECB prepares more aid for euro zone economy to help Covid-induced recession")
India IT spending to dip 8% in 2020 amid Covid-19 pandemic, says Gartner
Gartner expects spending on devices and data centre systems in India to see their steepest declines in 2020, at -15.1 per cent and -13.2 per cent, respectively.
 "India IT spending to dip 8% in 2020 amid Covid-19 pandemic, says Gartner")
This will be worst recession ever, farming may save the day: Devesh Kapur
The Director of Asia Programs at John Hopkins University sees Pharma as an area of strength too, and says India must aggressively develop APIs domestically, instead of sourcing from China
 "This will be worst recession ever, farming may save the day: Devesh Kapur")
India can tide over worst recession, but govt must be careful: Experts
Montek Singh, D Subbarao were participating in a webinar hosted by Bhavan's SP Jain Institute of Management Research
 "India can tide over worst recession, but govt must be careful: Experts")
Indian economy may expand by around 5% in FY22: Ex-RBI governor Subbarao
According to Subbarao, the country is going to face its worst recession in the current financial year
 "Indian economy may expand by around 5% in FY22: Ex-RBI governor Subbarao")
India may register recession in Q3 of this fiscal over Covid-19: Report
The country's economic recovery will depend on the efficacy and duration of implementation of the government's stimulus package, it adds
 "India may register recession in Q3 of this fiscal over Covid-19: Report")
The economic crisis and India's role in post-coronavirus multilateralism
The world gross domestic product is expected to contract by 3%, international trade may decline by up to 32%, and 49 million people could slip into extreme poverty
 "The economic crisis and India's role in post-coronavirus multilateralism")
Covid-19 crisis: World Bank to rescue with $160-billion aid to 100 nations
'Covid, shutdown may push as many as 60 mn people into extreme poverty'
 "Covid-19 crisis: World Bank to rescue with $160-billion aid to 100 nations")
Coronavirus outbreak to leave a legacy of unprecedented global debt
Central banks and govts worldwide have unleashed at least $15 trillion of stimulus via bond-buying and budget spending to cushion the blow of a global recession tipped to be the worst since the 1930s.
 "Coronavirus outbreak to leave a legacy of unprecedented global debt")
Covid-19 to push UK economy towards deepest recession: Bank of England
It would also be the sharpest annual contraction since 1706, according to reconstructed Bank of England data going back to the 18th Century
 "Covid-19 to push UK economy towards deepest recession: Bank of England")
The current market rally may soon run out of steam: Unmesh Kulkarni
As of now, we expect the global recession will be deep but short, and the fiscal and central bank actions should mostly prevent a financial and economic meltdown
 "The current market rally may soon run out of steam: Unmesh Kulkarni")
Three factors that will shape the course of economic activities going ahead
According to Dun & Bradstreet's latest Economy Forecast, the changes in consumer behaviour will determine the segments that are likely to flourish after the pandemic is brought under control
 "Three factors that will shape the course of economic activities going ahead")
Coronavirus impact: Reinventing traditional business from the living room
Entrepreneurs from traditional business communities in the country are using their time in lockdown to embrace change ahead of an imminent recession
 "Coronavirus impact: Reinventing traditional business from the living room")
Global CEOs see U-shaped recession, fear death of some brands: Study
11 per cent of chief executives see coronavirus as a risk to the survival of their firm, while a further 40 per cent say the pandemic poses a severe threat.
 "Global CEOs see U-shaped recession, fear death of some brands: Study")
Statsguru: The trail of Covid-19 destruction and a resulting recession
According to the International Monetary Fund, the pandemic is expected to cause the biggest recession since the Great Depression
 "Statsguru: The trail of Covid-19 destruction and a resulting recession")
India could use 3-5% of GDP stabilising economy: World Bank economists
The lockdown of economies around the world causes a much sharper decline in economic activity than in normal recessions, says World Bank chief economist south Asia region, Hans Timmer
 "India could use 3-5% of GDP stabilising economy: World Bank economists")
Covid-19: Global economic contraction in H1 of 2020 inevitable, says IMF
The IMF managing director said the immediate priority was to minimise the pandemic's human toll and economic disruption
 "Covid-19: Global economic contraction in H1 of 2020 inevitable, says IMF")
Can use full $1-trillion war chest for coronavirus outbreak, says IMF
In view of coronavirus crisis, the spring meeting is being held virtually-- the first one in the history of IMF and the World Bank.
 "Can use full $1-trillion war chest for coronavirus outbreak, says IMF")
