London analysts expect deep recession

According to recent macroeconomic analysts in London, a recession similar to the global financial crisis of 2008-2009, or much deeper, is expected this year due to the economic impact of the new coronary epidemic. Some analysts expect that this year will also be a recession for the emerging European region, and the world economy will be back to last year’s performance in two years.

Oxford Economics, one of London’s largest economic analysts, said in its revised forecast released on Monday that its model calculations show that global gross domestic product (GDP) will decline at around 2 percent in the first half of this year. The House emphasizes that this would be proportionate to the recession that accompanied the financial crisis of more than a decade ago. (Kertész Róbert, MTI)