New Global Economic Projections Are In

New Global Economic Projections Are In

(NewsReady.com) – It’s no secret the coronavirus has hit the world markets hard. After watching trends and with a better understanding of how COVID-19 spreads, the United Nations (UN) has put forth its new economic projections. It’s not looking good.

The UN’s new mid-year report estimates a total 3.2% drop in the global economy by the end of the year. It’s the most pronounced downturn since the 1930’s Great Depression. All of the gains over the last 4 years, around $8.5 trillion, will disappear over the next 2 years.

Depending on the type of forecast, the US economy could drop anywhere between 4.8% and 6.5% across 2020, though it’s still expected to go back up a few points during 2021.

This new report also expects 34.3 million worldwide to fall below the “extreme poverty line” with over half of them being in Africa. By 2030, another 130 million will join them. The UN also demonstrated how global tourism has dropped and how commodity prices have been in a “free fall,” especially oil.

Although 2020 will be rough for everyone, even the UN projects overall economic growth through next year. Fortunately, President Donald Trump and Congress are working to lessen the impact on America. That’s why they’ve passed so many stimulus bills. There is light at the end of the tunnel — we just need to make it through the tunnel first.

~Daily News for Busy People!

Copyright 2020, NewsReady.com

3 COMMENTS

  1. It’s not the Virus, that altered the markets, it is the
    orchestrated response by globalists and NWO enthusiasts that changed things.

  2. If the South African government would let the people go back to work, the people would not be starving, standing in long lines to get food. Africa, just like was tried in America, has a death grip on its people by using COVID-19 as a weapon. Unlike the USA, Africa does not have a Constitution that protects the people, so sadly their people have no power. I predict that the above predictions for the USA will prove to be erroneous. Just watch! As America goes so goes the world. All the One World Order/Socialist/Communist, Democrats, media, etc. will scratch their heads and wonder how this economy turned around right under their noses and they could not stop it – no matter what they predicted. False prophets of doom and gloom.

  3. Do you recall early decisions encouraging large gatherings and ignoring early warning signs. It happened in New York. It also happened with Pelosi in California. Because of the population density in New York City the city was hit particularly hard. But the mayor was photographed flouting the rules. Now he has to live with the consequences.

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