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Wreckage of Global Economy Now Looks Even Worse to IMF: Eco Week

  • PMI surveys may point to further recovery from historic lows
  • Weekly take on events in the world economy and their fallout
A pedestrian walks along Broadway near the New York Stock Exchange (NYSE).

A pedestrian walks along Broadway near the New York Stock Exchange (NYSE).

Photographer: Michael Nagle/Bloomberg

Two months after its dire predictions of the steepest recession in almost a century, the International Monetary Fund will release new global economic forecasts this week that will probably look even worse.

Officials at the Washington-based Fund have warned that a revised outlook due on Wednesday may feature a more pessimistic view than in April. Back then, they said the “Great Lockdown” caused by the coronavirus would force a global contraction of 3% this year.