Global GDP may drop by 1% in 2020, says Goldman Sachs

23rd March 2020 (Last Updated March 25th, 2020 12:42)

Goldman Sachs expects global real gross domestic product to contract by about 1 per cent in 2020, a sharper economic decline than in the year following the 2008 global financial crisis.

"The coronacrisis or more precisely, the response to that crisis -- represents a physical (as opposed to financial) constraint on economic activity that is unprecedented in postwar history," the investment bank said in a note to its clients published late on Sunday according to India Today.