Major economies are seeing the largest month-to-month hunch in exercise ever amid the coronavirus disaster and no finish is in sight with out readability about how lengthy lockdowns will final, the Organisation for Economic Cooperation and Development stated on Wednesday.
The OECD stated its main indicators, that are designed to flag turning factors in financial exercise, urged all main economies had plunged right into a “sharp slowdown” with solely India registering as being in a mere “slowdown”.
The indicators have been flagging “the largest drop on record in most major economies”, the Paris-based OECD stated in assertion, including that vast uncertainty over how lengthy lockdowns would final severely muted their predictive worth.
As a consequence, the OECD stated the symptoms “are not yet able to anticipate the end of the slowdown, especially as it is not yet clear how long, nor indeed severe, lockdown measures are likely to be”.
Last month, the OECD estimated that every month main economies spend in lockdown knocked 2 share factors off their annual progress.
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