Each month of confinement costs 2 percentage points of GDP, OECD calculates

Each month that major economies spend in lockdown will decrease annual growth by 2 percentage points, the Organization for Economic Cooperation and Development (OECD) said on Friday. "Our most recent estimates show that the blockade will directly affect sectors that account for up to a third of GDP in major economies," said The OECD's Ángel Gurria in comments to G20 leaders on Thursday, but which were released on Friday . "We estimate that for each quarantine month, there will be a 2 percentage point loss in annual GDP growth. Only the tourism sector faces a decrease in production between 50% and 70% in this period. Many economies will fall into recession," he added.