Reuters poll shows global economy expected to have its steepest contraction on record this year

Reuters polls of economists surveyed over the past few weeks

• global economy will suffer its steepest contraction on record this year
• a longer, U-shaped recovery more likely
• More than 55% or 87 of 155 economists said the global economic recovery would be U-shaped
• Thirty-one analysts said it would be V-shaped
• 24 said it be more like a check mark
• A few respondents expected a W- or L- shape

Global economy was forecast to shrink 2.0% this year

• compared to a 1.2% contraction predicted just three weeks ago and growth of 1.6% forecast before that in the March 20 poll