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Emerging Markets Will Get ‘Hammered’ in Downturn Eclipsing Great Recession: IHS

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The recession being caused by the COVID-19 pandemic is now forecast to be deeper than the Great Recession of 2008-2009, IHS Markit said.
IHS Markit economists said most economies around the world won’t return to pre-pandemic levels of output for two to three years.
CREDIT: Mark Lennihan/AP/Shutterstock

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The recession being caused by the COVID-19 pandemic is now forecast to be deeper than that of the Great Recession of 2008-2009, according to a new report from IHS Markit. Most economies won’t return to pre-pandemic levels of output for two to three years, Nariman Behravesh, chief economist at IHS Markit, and Elisabeth Waelbroeck-Rocha, chief international…

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