Business & EconomyCurrent Affairs

World economy faces worst performance since the past decade

Bank of America Corporation (BofA) economists stated that the world economy is heading for its worst performance since the 2009 financial crisis. The decline is due to the increasing spread of coronavirus across the world. The economists stated that they are expecting 2.8% global growth in 2020, which is the weakest since 2009. The forecast did not include a global pandemic that would basically shut down economic activity in many major cities. BofA forecast about the financial crisis: Bank of America: Founded on: 1998 Founded by: Amadeo Giannini Headquarters: Charlotte, North Carolina, US Chairman and CEO: Brian Moynihan

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