Brazil’s government lowered its 2020 economic outlook, forecasting a gross domestic product contraction of 4.7%, which would signal the country’s biggest economic crash in more than a century.
Growth in the world economy is surpassing expectations and global GDP is now expected to expand by more than three per cent this year and in 2019, reflecting strong growth in developed countries and broadly favourable investment conditions, a new UN report finds.
After last week's global rout, Asian markets struggled to hold early gains with analysts warning of further volatility across trading markets.