Double Dip Global Coronavirus Recession Sees Second Bottom

The global economy appears to have begun recovering after entering into a double-dip recession in December 2020, which looks to have bottomed in February 2020.

That assessment is based on the latest data on the changing concentration of carbon dioxide in the Earth's atmosphere recorded at the remote Mauna Loa Observatory. The trailing twelve-month average of the year-over-year change in atmospheric CO₂ levels has begun to rise again, indicating a return to net economic growth for the Earth's economy beginning in March 2021.

Trailing Twelve Month Average of Year-Over-Year Change in Parts per Million of Atmospheric Carbon Dioxide, January 1960 - March 2021

We have to emphasize "net" economic growth since the change is not uniform across the globe. Many nations, particularly in the Eurozone, continue to experience recessionary conditions from government-imposed lockdowns as they see rising rates of infections combine with the fiasco of their failure to acquire adequate supplies of COVID vaccines.

As long as that situation continues, the global recovery will be much slower than the regional recoveries now underway.

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