Other outfits also have predicted a recession. Earlier this week, the Organisation for Economic Cooperation and Development said it expects global growth to halve to 1.5%. Goldman Sachs expects it to shrink by 1.0% this year.
PETALING JAYA: This year is poised to be the worst year since the 1930s and Schroders has forecast the world economy to contract by 3.1% before rebounding by 7.2% next year.
The global asset managers said the coronavirus (Covid-19) has had a severe effect on global economic activity. It forecasts a severe recession in the first-half of 2020, and even with a rebound, it will be the worst year of activity since the 1930s.
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