July 30, 2020

Planes, cars, oil, GDP… the virus bill comes due

Paris (AFP) – Massive falls in economic output, huge losses at stalwarts such as the oil majors, plane manufacturers, carmakers — the world is now paying the bill for the pandemic as growing uncertainty clouds the outlook.The numbers are brutal.The United States, the world’s largest economy, contracted by a nerve-shredding 32.9 percent in the second quarter at an annualised rate.US jobless claims also continued to rise, pointing to a slowdown in the recovery.Europe’s biggest economy, Germany — said to have done better than most so far — shrank 10.1 percent in the second quarter compared wit…

source https://this.kiji.is/en/661647968668566625?c=648607265489716321

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