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OECD says pandemic has trigger...

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OECD says pandemic has triggered severe global recession

Rebecca Noonan
Rebecca Noonan

09:57 10 Jun 2020


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The Covid-19 pandemic has triggered the most severe global recession in nearly a century, according to the OECD.

In its latest economic outlook, it's presenting two scenarios for the year - if the virus is brought under control or if a second outbreak hits.

It's forecasting a drop of 7.6% in global economic output and a doubling of unemployment, in the case of the latter.

However if a second wave's avoided, it says there'll be a 6% fall in activity, and unemployment will climb to 9.2% from 5.4% last year.


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