Stock market reacts to recession, loses N8b
Trading on the equities sector is already responding to economic recession, as the Nigerian Stock Exchange (NSE) reopened on a downturn yesterday, causing the market capitalisation to depreciate by N8 billion.
COVID-19 caused recession – Buhari
As Nigeria slips into recession for the second time in five years, President Muhammadu Buhari, says it came about because of the severity of the global downturn caused by the COVID-19 pandemic.
UK logs record rebound from virus-driven recession
Britain's economy enjoyed a record third-quarter rebound from its deepest-ever recession, data showed Thursday, but experts predict another slump after fresh coronavirus restrictions were introduced to curb the pandemic.
Indonesia tumbles into first recession for two decades
Indonesia's virus-hit economy contracted in the third quarter, plunging it into its first recession since the archipelago was mired in the Asian financial crisis more than 20 years ago.
IMF sees less severe recession, but warns of lasting damage
The global economic crisis will not be quite as grim as feared this year, but GDP will still contract 4.4 percent and the pandemic means the outlook remains uncertain, the IMF said Tuesday.
UK unemployment jumps to 4.5% on virus fallout
Britain's unemployment rate has jumped to 4.5 percent as the coronavirus pandemic continues to destroy jobs, official data showed on Tuesday.
New Zealand plunges into recession as economy shrinks record 12%
New Zealand plunged into recession for the first time in a decade Thursday, as data confirmed a record-breaking economic collapse that forced Prime Minister Jacinda Ardern to defend her pandemic response ahead of next month's general election.
Global recession not as deep as expected: OECD
The global recession this year will not be as deep as expected as a result of countries' efforts to counter the economic fallout from the coronavirus pandemic, the OECD said on Wednesday.