Coronavirus pushing much of the world into record slumps

first_imgGermanyEurope’s top economy was hit less hard by the coronavirus than its neighbors, but still saw its GDP fall by 10.1 percent in the second quarter.As GDP had already declined by 2 percent in the first quarter, Germany’s economy met the definition of a recession: two consecutive quarters of contracting GDP. Germany’s previous record for a quarterly GDP drop: 4.7 percent in the first quarter of 2009. Spain After a 5.2 percent drop in the first quarter, Spain’s economy contracted a further 18.5 percent in the second, notably because of a 60 percent drop in tourism income and a fall by one third in exports. The coronavirus pandemic has pushed most of the world’s major economies into unprecedented contractions in the second quarter, except for China which escaped a recession.Here are the second quarter changes in gross domestic product (GDP) compared to the previous quarter for the world’s top economies. Unless stated otherwise, the figures are from the national statistics institutes. Japan Japan announced in mid-May it was already in recession when first quarter GDP slid by 0.6 percent after a 1.9 percent drop in the final quarter of 2019. The world’s number three economy has yet to publish second quarter GDP figures. United Kingdom The UK suffered the worst recession in Europe in the first two quarters of the year, also recording the highest number of coronavirus deaths in Europe. GDP fell 20.4 percent in the second quarter after a 2.2 percent drop in the first. China China, the world’s second-largest economy, may have been where the novel coronavirus originated, but thanks to strict lockdown measures it was able to largely halt the spread of the virus and reopen factories, thus avoiding a recession.In the second quarter its economy rebounded by 11.5 percent, having fallen by 10 percent in the first quarter. Still, growth for this year will be much below what China has become accustomed to for decades. EurozoneThe eurozone’s overall GDP plunged 12.1 percent in the three months to June, after 3.6 percent in the first quarter, making the second quarter downturn “by far” the worst since statistics agency Eurostat started compiling growth data for the area in 1995. United States The United States, the world’s top economy, suffered a 9.5 percent slump in the second quarter following a 1.3 percent drop in the first, according to figures published by the OECD. The US government publishes annualized figures (-32.9 percent in the second quarter), a method that is not comparable with most other countries. Topics : Italy Italy’s growth was impacted very early on by the coronavirus which hit its richest region, Lombardy, particularly hard. Italian GDP fell by 5.4 percent in the first quarter and then by 12.4 percent in the second, pushing the country into recession. France The eurozone’s number two economy was in a longer and stricter lockdown than its eastern neighbor, and second quarter GDP fell more steeply, by 13.8 percent, after a drop of 5.9 percent in the previous three months. Previously the worst quarterly GDP growth in France happened in 1968 because of a general strike in May of that year.last_img read more

Smullen and Weld combine for Derby success

UFC Throwback: Watch Conor McGregor KO Jose Aldo within seconds in HISTORIC fight

first_img LIVE TV Raj Sarkar Last Updated: 13th December, 2019 19:02 IST UFC Throwback: Watch Conor McGregor KO Jose Aldo Within Seconds In HISTORIC Fight Conor McGregor and Jose Aldo faced each other on this day, four years ago at UFC 194. Relive the throwback fight between them which ended extremely quickly. Also Read | UFC: Relive The Fight Where Amanda Nunes Was Knocked Out By Cat Zingano At UFC 178Also Read | Colby Covington Makes Special Trump Tower Visit Before UFC 245 Fight, Promises To Win First Published: 13th December, 2019 17:24 IST On this day in 2015 (IST), Conor McGregor revolutionalised the featherweight division for all the good reasons. It was definitely heartbreaking for Jose Aldo and all the Brazilian fans. However, Conor McGregor’s claim to the title gave hope to a lot of featherweight fighters. Before McGregor, Jose Aldo was the only man to have obtained the 145 lbs UFC gold.On this very day, Conor McGregor created history by knocking out the Brazilian veteran at UFC 194.Also Read | UFC: Amanda Nunes And Nina Anasroff’s Love Story Keeps On Inspiring The FansUFC: Conor McGregor’s throwback fight against Jose AldoThe much-awaited contest between two of the best fighters took place in 2015. To everyone’s shock, Conor McGregor stopped the fight in thirteen seconds of the very first round. No one expected that to happen since Jose Aldo was coming off 15 consecutive victories and an undefeated streak of more than seven years. However, McGregor proved everyone wrong and all he needed to do the ‘impossible’ was one single punch.It was a quick day at work for Mr Notorious as he got his first UFC gold by dethroning Jose Aldo. As the bell rang, Jose Aldo rushed towards the Irish and threw a deadly right jab. McGregor was already prepared for it and counter attacked Aldo with a vicious left hand followed with hammer fists. The fight that took months to get fixed, ended in thirteen seconds as Conor McGregor was crowned as the new featherweight champion of UFC. Take a look at the fight: SUBSCRIBE TO UScenter_img Written By FOLLOW US COMMENT Also Read | Amanda Nunes Reacts To Being Called GOAT Female Fighter Ahead Of Her UFC 245 FightUFC: Current status of Conor McGregor and Jose AldoBoth Conor McGregor and Jose Aldo are no longer active in the 145 lbs division. Jose Aldo is set to make his bantamweight debut against Marlon Moraes at UFC 245, while Conor McGregor has already confirmed his return against Donald ‘Cowboy’ Cerrone at UFC 246. The intense rivalry between both the gladiators has ended and McGregor has nothing but respect for his former rival. WATCH US LIVElast_img read more