Bloomberg Economics economists Tom Orlik and Björn van Roye revised their forecast for global growth in 2020 to -4.7% from -4%.<br />They predicted a "disastrous" slide to come, and don't expect output to return to pre-virus highs until Q2 of 2021.<br />Investor hopes for a V-shaped bounce to 2019 highs were all but dashed by a discordant response to the coronavirus pandemic.<br />A swift recovery required quick-acting stimulus, virus containment in the second quarter, and synchronized lifting of lockdowns.<br />But that didn't happen. Business Insider reports the team said many major economies set up the rest of the world for a prolonged recession.<br />The history of forecast revisions in the age of COVID-19 shows even the bleakest forecasts sometimes aren't bleak enough. Tom Orlik, Björn van Roye Bloomberg Economics
