World’s Major Economies Suffer Record 10% Lockdown Slump

(Bloomberg) -- Lockdowns and coronavirus restrictions pushed the world’s major economies into a near 10% economic slump in the second quarter, according to the Organization for Economic Cooperation and Development. That’s a record drop for OECD countries, and four times the 2.3% GDP decline recorded in the first quarter of 2009, at the height of the financial crisis. While economies have started to rebound, the fallout on businesses, jobs and incomes continues to be felt around the world.

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