from the St Louis Fed
– this post authored by Pablo Andres Neumeyer, Professor, Universidad Torcuato Di Tella; Paulina Restrepo-Echavarr’a, Senior Economist, St. Louis Fed; and Lucas Belmudes, Research Associate, Universidad Torcuato Di Tella
Is the COVID-19 recession one of the worst recessions on record? Is this a common feature across the globe? We put the downturn in historical perspective by comparing recently released forecasts of gross domestic product (GDP) growth for 2020 with the historical record. For expected GDP growth, we use data from the October edition of the International Monetary Fund’s World Economic Outlook (WEO), and we use the Maddison Project Database 2018 for the historical data.
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