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The world economy likely faces a long slog back from the coronavirus crisis as two reports out on Monday predict that global growth will struggle to bounce back from the lockdowns, travel restrictions and business closures meant to contain the pandemic.
IHS Markit said that it expects the world economy to shrink 5.5 per cent this year, triple the damage it sustained in the 2008 financial crisis, and then struggle to regain traction, news agency PTI reported.
While growth in the hardest hit economies may snap back briefly, the momentum will soon fade, the financial research firm warned. It expects
