Coronavirus is expected to cause economic carnage of the like not seen since the late 1920s
The brutal recession triggered by the Covid-19 outbreak is likely to shrink the world economy by at least 4pc this year, the Centre for Economics and Business Research has warned.
Such a decline would represent some $3.6 trillion (£3trn) in lost output.
If the CEBR’s forecast is correct - and it cautions there is a “huge margin of error” - the fall would represent the worst year for global growth since 1931 outside of wartime according to the think-tank. Read more >>