Economy

Coronavirus crisis could cost global economy $82 trillion: Report

May 21, 2020 08:31

The coronavirus pandemic could cost the global economy up to $82 trillion as most countries have slid into a serious recession due to the fallout of the fatal disease, a new report shows.
Coronavirus impact could compare to Great Depression

May 08, 2020 14:53

The current coronavirus pandemic will cause individual economies to plunge into recession; businesses will close down and jobs will be lost at similar levels to that of the Great Depression. Moreover, the pandemic is impacting both industrial and developing countries; whereas the Great Depression was largely concentrated in industrial countries.
US trade deficit widens to $44.4 billion in March on falling exports

May 05, 2020 13:49

The United States government says its exports faltered nearly 10 percent in March, taking the country’s trade deficit to over $44 billion.
US economy contracted most since Great Recession over coronavirus

Apr 29, 2020 08:40

The US economy contracted in the first quarter at its sharpest pace since the Great Recession as businesses across the country shut down and laid off tens of millions of workers to slow the spread of the coronavirus pandemic.
‘We’re going down, down, down, down, down’

Apr 17, 2020 14:15

The federal government of the United States is struggling to deliver financial aid to faltering employers — and workers are suffering the consequences. Roughly 10 percent of American workers filed for unemployment benefits in the past three weeks, a wave of job losses that has no precedent in modern American history. Millions more are struggling to submit unemployment claims to overwhelmed state agencies. And still more face the loss of their jobs in the coming weeks.
US purged another 5.2 million jobs last week

Apr 16, 2020 13:19

Amid the worsening economic damage from the coronavirus pandemic, another 5.2 million US workers were jobless and sought unemployment benefits last week, the US regime reported Thursday.
World economy 'may face double recession' amid coronavirus pandemic

Apr 16, 2020 07:37

As the world economy is expected to suffer its worst year in 2020 since the Great Depression of the 1930s, another “possibly much worse downturn” is likely to follow.
IMF says virus pandemic to unleash worst recession since Great Depression

Apr 09, 2020 13:38

The coronavirus pandemic will trigger the worst fallout since the 1930s Great Depression, warns the IMF head.
Economic experts warn climate crisis could spur financial crash like 2008 in US

Mar 18, 2020 15:09

With markets currently in turmoil due to the coronavirus pandemic, US experts testified on Thursday that there is high risk for an even larger economic crisis absent urgent climate policy. A panel of economic experts brought this message to a handful of senators on Capitol Hill during a March 12 hearing convened by the Senate Democrats’ Special Committee on the Climate Crisis.
Oil prices fall further 6 percent

Mar 12, 2020 08:37

Oil prices have plunged a further six percent Thursday after US President Donald Trump announced travel restrictions on Europe to combat the spread of the coronavirus, ramping up fears of more recession.