2020 Per Capita GDP Growth Projection: Lowest Since World War II

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Dwi Hadya Jayani 14/08/2020 12:10 WIB

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This Covid-19 recession is the deepest since the recession during World War II in 1945-1946.

World Per Capita Gross Domestic Product Growth

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2020 Per Capita GDP Growth Projection: Lowest Since World War II

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World Per Capita Gross Domestic Product Growth

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The World Bank recorded 14 global recessions since 1870. These recessions occurred in 1876, 1885, 1893, 1908, 1914, 1917-1921, and 1930-1932. Further recessions happened in 1938, 1945-1946, 1975, 1982, 1991, and 2009. The most recent recession was in 2020, caused by the Covid-19 pandemic.

The Covid-19 recession was the deepest since World War II (1945-1946), as evidenced by a -6.2% contraction in per capita gross domestic product (GDP). This is twice as deep as the 2009 recession, which saw a -2.9% contraction.

Editor : Safrezi Fitra

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."