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The Shape Of Retail: Consumers And The New Normal

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The International Monetary Fund (IMF) reassessed prospects for global growth in 2020 and 2021, declaring that we have entered a recession as bad or worse than that of the 2008 global financial crisis.

The IMF expects the global economy to contract sharply by 3% in 2020 – much worse than during the financial crisis of 2008. The Euro Area is expected to report significantly weaker growth, with output falling by 7.1% in 2020, while advanced economies are predicted to suffer a 6.1% fall before bouncing back in 2021.

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