Today (May 18), Japan released first-quarter GDP data at 07:50 Beijing time. The results showed that Japan’s GDP shrank by 3.4% in the first quarter (annualized quarterly rate). Since the consumption tax increase in the fourth quarter of 2019 triggered a 7.3% recession, the economy has shrunk for two consecutive quarters, and the world's third largest economy has officially entered recession.
As the vaccine that broke the last straw for Japan, its influence has swept the world. The
organization made a prediction about the world's major economic influences. The results are as follows:
US GDP will shrink by 6.6% in 2020.
US GDP is expected to shrink by 6.6% in 2020, and US GDP will shrink at an annual rate of 32% in the second quarter.
Eurozone GDP will shrink by 7.6% in 2020
Eurozone GDP is expected to shrink by 7.6% in 2020, compared with a decline of 5.2% in the previous survey; GDP in the second quarter of 2020 is forecast to decline by 12.4% from the previous survey, compared with a decline of 8.3% in the previous survey ; GDP in the third quarter of 2020 is forecast to grow by 9.1% quarter-on-quarter, compared with a growth of 4.8% in the previous survey.
France’s GDP shrank by 9.1% in 2020
The French economy will shrink by 9.1% in 2020, grow by 6.0% in 2021, and grow by 1.8% in 2022. GDP in the second quarter of 2020 is forecast to decrease by 13.2% from the previous survey, compared with a decrease of 8.6% in the previous survey; GDP in the third quarter of 2020 is forecast to increase by 10.7% from the previous survey, compared with an increase of 8.1% in the previous survey.
Germany’s GDP shrank by 9% in 2020
Deutsche Bank economists said that Germany’s seasonally adjusted gross domestic product (GDP) fell by 2.2% in the first quarter, and the situation in the second quarter is expected to be worse. Quarterly GDP fell by 14%, but GDP rebounded by 5% in the third quarter. German GDP may fall by 9% in 2020.
Italy’s GDP shrinks by 10.3% in 2020
Italy’s GDP is expected to shrink by 10.3% in 2020, grow by 5.6% in 2021, and grow by 1.4% in 2022. GDP in the second quarter of 2020 is forecast to decrease by 12.3% from the previous survey, compared with a decrease of 8.8% in the previous survey; GDP in the third quarter of 2020 is forecast to increase by 7.4% from the previous survey, compared with an increase of 5.5% in the previous survey.
UK GDP shrinks by 7.7% in 2020
UK GDP is expected to shrink by 7.7% in 2020, grow by 5.5% in 2021, and grow by 2.7% in 2022; GDP in the second quarter of 2020 is forecast to decline by 14.2% from the previous survey, and the previous survey was a decline of 11.8% ; GDP in the third quarter of 2020 is forecast to grow by 8.9% quarter-on-quarter, compared with a growth of 5.5% in the previous survey.
Spain’s GDP shrinks by 9.3% in 2020
Spain’s GDP is expected to shrink by 9.3% in 2020, grow by 6.7% in 2021, and grow by 2.7% in 2022. The GDP in the second quarter of 2020 is forecast to decrease by 16% from the previous survey, which was -10.3%; the GDP in the third quarter of 2020 is forecast to increase by 11.7% from the previous survey, which was an increase of 5.6%.
The West is not bright, but the East is bright. Compared with the bleak West, the six Asian countries will have positive growth.
expects China to be 3.1% in the third quarter of 2020 and 3.5% in the fourth quarter. China is expected to grow by 4.4% in the first quarter of 2021.
In addition, South Korea, India, Indonesia, Singapore and Saudi Arabia will also perform relatively well.
