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The historic coronavirus recession — by the numbers



The historic magnitude of the global coronavirus recession is starting to become clear.

Second quarter data for the EU point to a GDP hit of nearly 12 percent on top of a 3.2 point contraction in the first three months of the year. It is hard to overstate how significant that is. For comparison, during the Great Depression the worst quarterly result for the U.S. economy was a contraction of 7.2 percent in the fourth quarter of 1937.

Here’s how the economic slump caused by COVID-19 breaks down and compares to previous recessions.

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