28.2 C
Delhi
Monday, October 19, 2020

Global GDP shrinks 7.2% in April-June 2020: Motilal Oswal

- Advertisement -

Global GDP shrinks 7.2% in April-June 2020: Motilal OswalMumbai, Sep 25 (IANS) As the pandemic brought the global economy to a standstill, the global real GDP contracted 7.2 per cent on a year-on-year basis in the second quarter (April-June) of 2020, said the ‘EcoScope’ report by Motilal Oswal Financial Services.

The global real private final consumption expenditure (PFCE) declined at record 11 per cent YoY last quarter while global real gross capital formation (GCF) fell 6per cent, and global real government final consumption expenditure (GFCE) remained stagnant in 2QCY20.

It noted that India’s real PFCE contracted by 26.7 per cent and real GFCE saw a growth of 16.4 per cent in Q2 2020 (YoY). In terms of real GCF, India witnessed a decline of 47.5 per cent in Q2 2020 (YoY), the report added.

It said that the real GDP in advanced economies (AEs) contracted 11 per cent, while it shrank 14 per cent in emerging and developing economies (E&DEs), excluding China. Interestingly, China was the only nation in the sample of 39 nations,which posted growth in 2QCY20. Taiwan posted the slowest decline of only 0.2per cent YoY, while India posted the worst decline of 24 per cent YoY last quarter.

“The record decline in PFCE is not a surprise amidst the economic lockdowns and social distancing practices due to COVID-19 globally. It has declined in all 39 nations, ranging from -2.9 per cent YoY in China to -28 per cent in Singapore,” it said.

Despite the massive fiscal stimulus, no growth in real GFCE in 2QCY20 is surprising,said the report, adding that the real GFCE declined 0.6 per cent YoY in advanced economies but grew 1.9 per cent YoY in emerging and developing economies.

–IANS

India Updates
India Updates is an independent news & Information website. Follow us for regular updates on News and Information.

Follow Us On

Related News

Modi govt receives 213 proposals to end rural water woes

New Delhi, Oct 19 (IANS) The Centre has received a whopping 213 proposals from various Indian tech start-ups, MSMEs, companies and LLPs for a challenge...

Musk one step closer to beam cheaper Internet with Starlink

Washington, Oct 19 (IANS) Elon Musk-run SpaceX has launched 60 more Starlink satellites aboard Falcon 9 rocket to be deployed in low-Earth orbit, bringing...

Xiaomi announces industry-leading 80W wireless charging

Beijing, Oct 19 (IANS) Chinese brand Xiaomi on Monday said it is working on the industry-leading wireless technology that will fully charge the battery...

All guns blazing: Sidhu slams Cong govt, Centre on agriculture

Chandigarh, Oct 19 (IANS) On the eve of introduction of a state Bill in Punjab Assembly to negate 'anti-farmer' central farm laws, cricketer turned...

Corona is the new Mahishasura in Delhi’s subdued Durga Puja

New Delhi, Oct 19 (IANS) In times of the pandemic, evil has attained a new face — coronavirus. Hence, the Safdurjung Matri Mandir, an old puja...

Sitharaman tells central PSUs to scale up capex in FY21, FY22

New Delhi, Oct 19 (IANS) Stressing the need for capital expenditure (capex) by Central Public Sector Enterprises (CPSEs), Union Finance Minister Nirmala Sitharaman has said...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Trending Topics In India

Covid 19 India Updates

‘India can become global PPE hub, more R&D efforts needed’

New Delhi, Oct 18 (IANS) Within six to seven months, India has become a major manufacturer of personal protective equipment (PPE) kits and even...

‘India can become global PPE hub, more R&D efforts needed’

New Delhi, Oct 18 (IANS) Within six to seven months, India has become a major manufacturer of personal protective equipment (PPE) kits and even...

Bharat Biotech & Washington Univ developing nasal vax for Covid: Minister

New Delhi, Oct 18 (IANS) Union Health Minister Harsh Vardhan on Sunday informed that Bharat Biotech will develop an intranasal vaccine for Sars-CoV-2, the...

PM Modi says use poll experience for vaccine delivery system

New Delhi, Oct 17 (IANS) Prime Minister Narendra Modi on Saturday reviewed the Covid-19 pandemic situation in the country and the preparedness of vaccine...

Achievements in poverty reduction at risk due to Covid: FM

New Delhi, Oct 16 (IANS) Finance Minister Nirmala Sitharaman on Friday said that the the impact of coronavirus pandemic continues and the achievements in...

Mask & Movies: How cinema viewing changed in post Covid era

New Delhi, Oct 16 (IANS) After around seven months of complete closure due to the restrictions imposed due to the Covid-19 pandemic, movie theatres...

Trending News In India

Amid e-tail battle, DMart turns 2 stores into fulfilment centres

Mumbai, Oct 19 (IANS) As the e-commerce battle intensifies in India, with Reliance Retail’s JioMart being the latest major entrant with a massive potential...

Musk one step closer to beam cheaper Internet with Starlink

Washington, Oct 19 (IANS) Elon Musk-run SpaceX has launched 60 more Starlink satellites aboard Falcon 9 rocket to be deployed in low-Earth orbit, bringing...

Xiaomi announces industry-leading 80W wireless charging

Beijing, Oct 19 (IANS) Chinese brand Xiaomi on Monday said it is working on the industry-leading wireless technology that will fully charge the battery...

All guns blazing: Sidhu slams Cong govt, Centre on agriculture

Chandigarh, Oct 19 (IANS) On the eve of introduction of a state Bill in Punjab Assembly to negate 'anti-farmer' central farm laws, cricketer turned...

Corona is the new Mahishasura in Delhi’s subdued Durga Puja

New Delhi, Oct 19 (IANS) In times of the pandemic, evil has attained a new face — coronavirus. Hence, the Safdurjung Matri Mandir, an old puja...

Preparations to start soon for Haj 2021, says Centre

New Delhi, Oct 19 (IANS) The Centre on Monday said that Haj 2021 will depend on the national and international protocol guidelines in view...

Trending Showbiz

‘Laxmmi Bomb’ highlights transgender community, says director Raghava Lawrence

Mumbai: The horror comedy Laxmmi Bomb, starring Akshay Kumar, is all set to release on November 9, and director Raghava Lawrence, who makes his Bollywood...

BARC India remains committed to its stakeholders

Mumbai, Oct 18 (IANS) Broadcast Audience Research Council (BARC) India on Saturday released a statement underlining the fact that the body aimed at ensuring...

Cinemas reopen: Day one sees dull start, but trade experts positive

BY NATALIA NINGTHOUJAM (IANS) Cinemas in several states including Delhi-NCR opened doors to patrons on Friday after seven months the turnout everywhere has been...

Will thwart all attempts to finish off Bollywood: Thackeray

Mumbai, Oct 16 (IANS) Breaking his silence, Maharashtra Chief Minister Uddhav Thackeray on Thursday made it clear that he would resist any moves to finish off...

BARC to pause ratings of news channels

Mumbai, Oct 15 (IANS) Amid the ongoing TRP (Television Rating Point) scandal, Broadcast Audience Research Council (BARC) board is all set to review its...

Ravi Kishan wants separate Censor Board for Bhojpuri films

Gorakhpur (UP), Oct 14: Actor-turned-politician Ravi Kishan will now raise the issue of vulgarity in Bhojpuri films in Parliament and demand setting up of...

Trending Sports

KXIP crowned kings after beating MI in 2nd Super Over

Dubai, Oct 19 (IANS/GloFans) In a most dramatic contest, comprising two Super Over deciders, Kings XI Punjab (KXIP) held their nerve to eke out a...

Dhawan’s maiden ton takes DC to five-wicket win over CSK

Sharjah, Oct 17 (IANS) Shikhar Dhawan scored his maiden T20 century while Axar Patel knocked off the required 17 runs off the last over...

ABD magic takes RCB to 7-wicket win over RR

Dubai, Oct 17 (IANS) Royal Challengers Bangalore (RCB) on Saturday beat Rajasthan Royals (RR) by seven wickets, thanks to an unbeaten 22-ball 55 from...

Clinical Mumbai thrash Kolkata in a mismatch

Abu Dhabi, Oct 17 (IANS/GloFans) Maintaining their winning streak, reigning champions Mumbai Indians (MI) outclassed Kolkata Knight Riders (KKR) by eight wickets on Friday...

KXIP survive late choke to beat RCB by 8 wickets

Sharjah, Oct 16 (IANS): Kings XI Punjab (KXIP) survived an extraordinary late choke to end their run of defeats with an eight-wicket win over Royal...

Delhi back on top with 13-run win over RR

Dubai, Oct 14 (IANS) Delhi Capitals (DC) on Wednesday beat Rajasthan Royals (RR) by 13 runs at the Dubai International Stadium and climbed back...

Latest Trending News In India

Modi govt receives 213 proposals to end rural water woes

New Delhi, Oct 19 (IANS) The Centre has received a whopping 213 proposals from various Indian tech start-ups, MSMEs, companies and LLPs for a challenge...

Musk one step closer to beam cheaper Internet with Starlink

Washington, Oct 19 (IANS) Elon Musk-run SpaceX has launched 60 more Starlink satellites aboard Falcon 9 rocket to be deployed in low-Earth orbit, bringing...

Xiaomi announces industry-leading 80W wireless charging

Beijing, Oct 19 (IANS) Chinese brand Xiaomi on Monday said it is working on the industry-leading wireless technology that will fully charge the battery...

All guns blazing: Sidhu slams Cong govt, Centre on agriculture

Chandigarh, Oct 19 (IANS) On the eve of introduction of a state Bill in Punjab Assembly to negate 'anti-farmer' central farm laws, cricketer turned...

Corona is the new Mahishasura in Delhi’s subdued Durga Puja

New Delhi, Oct 19 (IANS) In times of the pandemic, evil has attained a new face — coronavirus. Hence, the Safdurjung Matri Mandir, an old puja...