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Major Economies Are Facing Unprecedented Economic Slumps

Major Economies Are Facing Unprecedented Economic Slumps

Major Economies Are Facing Unprecedented Economic Slumps

(Bloomberg) -- The OECD’s indicator of future turning points for the global economy plunged to unprecedented levels in April as output, consumption and confidence slumped when governments locked down activity to contain the coronavirus outbreak. Still, there were some signs that the end of a shutdown can improve the outlook for an economy as China’s Composite Leading Indicator for industry is “tentatively pointing towards a positive change in momentum.” The OECD warned that extraordinary situations created by the virus mean its indicators are less reliable measures of the future than usual and more indicative of the present.

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