The OECD released its latest Economic Outlook this week, revealing the projected impact the COVID-19 pandemic will have on global GDP in 2020, according to a feature from Statista.com. When assuming there will be no second wave of infections in 2020, gross domestic product is currently expected to be down by 6 percent on last year. However, Should we encounter a “double-hit” scenario, this is forecast to increase to a 7.6 percent drop.

Adding further context, the OECD writes, "The COVID-19 pandemic is a global health crisis without precedent in living memory. It has triggered the most severe economic recession in nearly a century and is causing enormous damage to people’s health, jobs and well-being."

More Images