Cumulative World GDP Loss From Coronavirus Pandemic Tops $11 Trillion
The estimated cumulative loss of GDP to the world economy since the Coronavirus pandemic began in China now tops $11 trillion.
We are basing that assessment on the trend in the trailing twelve month average of the year over year change in the atmospheric concentration of carbon dioxide measured at the remote Mauna Loa Observatory. Here, we find that the pace at which CO₂ is increasing in the Earth's air has fallen from a trailing year average of 2.91 parts per million in December 2019 to a preliminary estimate of 2.58 parts per million in August 2020.
The falling trend since December 2019 can be seen in the latest update to a chart, which shows the history of this measure against a backdrop of the timing of major world economic events since January 1960.
(Click on image to enlarge)
The cumulative decline of just 0.34 parts per million of carbon dioxide in the atmosphere roughly translates to the equivalent of an $11.3 trillion reduction in the world's Gross Domestic Product.
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