Receive our newsletter – data, insights and analysis delivered to you

Macroeconomic Forecast: GDP forecasts revised downwards again – Italy nears double digit decline

By Paul Dennis

12 May

The GDP growth forecast for European countries and the US have been revised downwards yet again — with estimates for France seeing the biggest drop.

Italy remains the country likely to take the biggest hit according to this week’s GlobalData forecasts, with the country’s economy expected to shrink by 9.4% during 2020.

France now expected to see a 8.4% shrinkage of GDP over the year, compared to last week’s estimate of 7.4%.

The UK economy is expected to shrink by 7.6% this year, Germany’s by 6.7% and that of the US by 5.3%.

Both China and India continue to register modest estimated positive growths of 0.8% and 1% respectively.

Content from our partners
How the North of Tyne region is leveraging its legacy to define its future
Q&A with Chevron Lubricants’ Paul Sly, global industrial OEM specialist, and Nathan Knotts, global brand technical manager
The important role of antifoam agents in oil-gas separation and amine treating

Stock markets have seen some positive growth from last week in all markets except India.

 

Covid-19 macroeconomic dashboard

We are using exclusive dynamic figures provided by GlobalData analysts to track key economic indicators in major world economies hit by Covid-19. Deaths from the virus are plotted alongside the indexed performance of each country’s major stock exchange. Figures are tracked daily from the March 1, 2020.

Covid-19 macroeconomic dashboard

Related Companies

Topics in this article:
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU