Guardian Stockbrokers Key Economic News Wednesday 15 April 2020

The key points from today’s economic news, brought to you by Guardian Stockbrokers.

IMF lowers global economic growth forecast for 2020

The International Monetary Fund (IMF) expects the global economy to contract by 3.0% in 2020, citing persistent tensions surrounding coronavirus pandemic. Further, the IMF warned that it is very likely that the global economy will experience its worst recession this year since the Great Depression. The IMF forecasted that the US economy will contract by 5.9%, Euro-zone to shrink by 7.5%, while China to grow by 1.2% in 2020.

Australian consumer confidence dropped in April

In Australia, the seasonally adjusted consumer confidence registered a drop to a level of 75.6 in April. In the prior month, the consumer confidence index had registered a reading of 91.9.

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