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

Mumbai, Sep 26 (TIWN) 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 percent YoY last quarter while global real gross capital formation (GCF) fell 6 percent, and global real government final consumption expenditure (GFCE) remained stagnant in 2QCY20.  It noted that India’s real PFCE contracted by 26.7 percent 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 percent in Q2 2020 (YoY), the report added.

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