⁍ The IMF forecast a 2020 global contraction of 4.4% in its latest World Economic Outlook.

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⁍ The United States will see a 4.3% contraction in its 2020 gross domestic product.

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⁍ The eurozone’s economy will shrink by 8.3% in 2020, an improvement from a 10.2% contraction predicted in June.

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– Pandemics aren’t necessarily bad news for the global economy, according to the International Monetary Fund. In its latest World Economic Outlook, the fund predicts the global economy will shrink 4.4% in 2020 thanks to the H1N1 virus. That’s a bit better than the 5.2% it predicted in June, but it’s still the worst contraction since the Great Depression, Reuters reports. The US, meanwhile, is expected to shrink 4.3%. “The virus is resurging with localized lockdowns being reinstituted,” says IMF chief economist Gita Gopinath. “Now, if this worsens and prospects for treatments and vaccines deteriorate, the toll on economic activity would be severe and likely amplified by severe financial market turmoil.” The global economy will return to growth of 5.2% in 2021.