March’s small rise in the global manufacturing PMI was driven entirely by a rebound in China and masked sharp declines elsewhere. The survey already points to falls in global production, but it is...

The world is heading for the sharpest and deepest global slowdown since WW2. Assuming that the virus is brought under control within a few months, the subsequent rise in world GDP should also be sharp...

Unlike in previous downturns, services are likely to underperform industrial sectors this time around. Consumer-facing services, such as leisure and hospitality, are suffering most already. As the...

In this Update, we answer some key questions about the fiscal stimulus underway in advanced economies. In short, government deficits are set to soar, probably rising by more than after the financial...