WASHINGTON, Oct. 8 (Xinhua) -- Global output is expected to shrink by 4.4 percent in 2020 due to the mounting impact of the COVID-19 pandemic, according to Peterson Institute for International Economics (PIIE)'s semiannual global economics prospects report released Thursday.
The policy response of the last six months has allowed the global economy to recover from the steep drop in activity that occurred when economies shut down to contain the spread of COVID-19, the Washington-based think tank said.
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