(MENAFN)
The Federation of German Industries (BDI) said on Monday that the international GDP, gross domestic product, is expected to decline between 0.5 and 3 percent in the current year 2020.
The BDI said that the last time that the international economy saw a decline in output in the last 50 years was in 2009 when the international GDP lost 1.7 percent.
The BDI assumed a one-time interruption of economic activities of no longer than six weeks scenraio and predicted the trade of the globe to slump 3 to 5 percent in comparison with the earlier year.
BDI director general Joachim Lang said that"A strong recession in the United States, Europe and Japan is unavoidable this year", adding that the first and second 2020 quarters will see a strong decline in economic activities.
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