Japan was hit by its biggest economic contraction on record in the second quarter as the coronavirus pandemic crushed consumption and exports.
Singapore's virus-hammered economy shrank almost 43 percent in the second quarter, in a sign that the country's first recession in more than a decade was deeper than initially estimated.
The eurozone suffered its greatest contraction on record, exceeding the US economy’s record plunge.
The eurozone economy will drop deeper into recession this year and rebound less steeply in 2021 than previously thought, the European Commission forecast on Tuesday.
Germany Foreign Minister Heiko Maas warned against reopening tourism destinations too quickly, saying Europe should agree on a common path back to the freedom of travel.
Governor of the Central Bank of Iran Abdolnaser Hemmati announced that Iran’s economy is getting out of recession.
TEHRAN - Minister of Economic Affairs and Finance, Farhad Dejpasand said that his country would get out of recession in the near future.