Global Economies Suffer “Largest Drop On Record”: OECD

Global Economies Suffer “Largest Drop On Record”: OECD

In case anyone needed more proof that the entire world is sliding into recession, if not outright depression, on Wednesday morning the Organisation for Economic Cooperation and Development said that major economies are seeing the biggest monthly slump in activity ever amid the coronavirus crisis and no end is in sight without clarity about how long lockdowns will last.

The OECD said its leading indicators, which are designed to flag turning points in economic activity, suggested all major economies had plunged into a “sharp slowdown” with only India registering as being in a mere “slowdown”.