Weekly Economics Analysis by Lloyds TSB

The world economy is currently experiencing its steepest downturn since the 1940s, with global trade expected to contract by 10% this year.

Bleak year for global economy in prospect

The world economy is currently experiencing its steepest downturn since the 1940s, with global trade expected to contract by 10% this year. Global economic output could fall by 2%, with growth in the advanced economies dropping by at least twice this rate, around 4-5%. Emerging markets are weathering the downturn much better than the advanced economies and better than at any time in their history – but they are not immune.

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