About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

1 1 (September 01, 2020)

handle is hein.crs/govdbnc0001 and id is 1 raw text is: Gongesssoa Research Service Global Economic Growth Forecasts: Impact of COVID-19 September 1, 2020 Overview The unprecedented Coronavirus Disease 19 (COVID-19) pandemic and policy responses have compounded the challenges facing forecasters attempting to estimate the pandemic's global economic impact and challenged policymakers to find the appropriate policy response. Some forecasts indicate the pandemic is negatively affecting economic growth beyond anything experienced in decades. Such estimates see global economic growth being trimmed by 3.0% to 6.0% in 2020, with a partial recovery in 2021, assuming the current crisis can be mitigated and there is not a second wave of infections. Global trade could fall by 18%, depending on the depth and extent of the global downturn, exacting an especially heavy economic toll on developed economies and trade-dependent developing and emerging economies. At present the global economic recovery seems to be caught between countries experiencing a nascent but building recovery and those reimposing quarantines and lockdowns in response to resurgence in diagnosed cases. Uncertainty about the length and depth of the pandemic's economic effects have fueled perceptions of risk and volatility in financial markets and corporate decisionmaking, although intervention by central banks calmed markets in the second quarter. Policymakers and financial and commodity market participants generally have been hopeful of a global economic recovery starting in the third quarter of 2020, assuming no second wave of infections, based on continued and unprecedented central bank support. For some observers, the central bank support has created a disconnect between financial markets and projected economic prospects. Some forecasts raise the prospects that the pandemic could negatively affect global economic growth more extensively than previously estimated. In a growing number of cases, corporations are postponing investment decisions, laying off workers who previously had been furloughed, and, in some cases, filing for bankruptcy. Uncertainties concerning the effectiveness of public policies intended to contain COVID-19's spread are also adding to market volatility. Congressional Research Service https://crsreports.congress.gov IN11493 CRS INSIGHT Prepared for Members and C om m itees of C nqgress ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Short-term subscription options include 24 hours, 48 hours, or 1 week to HeinOnline.

Purchase Access

Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most