JPMorgan Chase & Co. economists put the lost output at $5.5 trillion or almost 8% of GDP through the end of next year The coronavirus pandemic is set to rob the global economy of more than $5 trillion of growth over the next two years, greater than the annual output of Japan.

That’s the warning from Wall Street banks as the world plunges into its deepest peacetime recession since the 1930s, after the virus forced governments to demand that businesses close and people stay home.

Although the downturn is predicted to be short-lived, it’ll take time for economies to make up the lost ground. Even with unprecedented levels of monetary and fiscal stimulus, gross domestic product is unlikely to return to its pre-crisis trend until at least 2022.

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Robert De Niro Calls Response To COVID-19 ‘Like Something We See In A Movie’

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Matthew Macconaughey - Jennifer Lopez - Oprah Winfrey - Ellen Degeneres - Sam Smith - Charlie Puth - Adam Lambert - Alicia Keys - Camila Cabello - Shawn Mendes - Taylor Swift - Lupita Nyong - Amy Poehler - Annie Lennox - Bridget Moynahan - How to Watch 'One World: Together at Home' Benefit Concert - billboard.com - Victoria, county Beckham - county Beckham

How to Watch 'One World: Together at Home' Benefit Concert

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12 COVID-19 cases, plus more in other provinces, linked to Kearl Lake facility

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Boy Meets World's Will Friedle Apologized to Trina McGee For Racist Comments He Made Years Ago

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Lightning in a Bottle Festival Alters Refund Policy Following Class Action Lawsuits

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Kate Middleton Opens Up About Her Life in Quarantine With Prince George, Princess Charlotte, and Prince Louis

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Paddy McGuinness dons wife Christine’s tiny lace lingerie in hilarious X-rated Flip The Switch

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Only Lionel Messi and two other Barcelona stars are 'safe' at club due to crisis

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'No evidence' to support belief that people who recover from coronavirus have immunity

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Trump announces guidelines for states to start reopening

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Coronavirus outbreak: Testing for COVID-19 in U.S. roadblock to reopening economy

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Coronavirus outbreak: Behind the scenes with Trillium Health Partners’ ‘airway team’

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Millrise seniors home apologizes for lack of communication after COVID-19 cases confirmed

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First look inside Martin Lewis' home as Money Saving Expert reveals state-of-art studio

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Vancouver’s Science World at risk of going ‘broke’ due to coronavirus pandemic

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Japan's Yoshiki Talks 'Sing For Life' Collab with Bono, will.i.am, Jennifer Hudson: Watch Interview

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Gov. Wolf unveils plan to reopen Pennsylvania economy

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Covid-19-hit China’s Q1 GDP shrinks for the first time ever

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United States	Cases: 46 252 513 Deaths: 750 423 Recovered: 0
India	Cases: 34 321 025 Deaths: 459 652 Recovered: 0
Brazil	Cases: 21 835 785 Deaths: 608 235 Recovered: 0
United Kingdom	Cases: 9 215 683 Deaths: 141 607 Recovered: 0
Russia	Cases: 8 494 589 Deaths: 237 619 Recovered: 0

World economy faces $5 trillion hit that is like losing Japan

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