<human>:  What is the current state of the global economy?
<bot>: The global economy is currently in a state of flux due to the COVID-19 pandemic, as many countries have had to suspend economic activity to halt the spread of the virus. There has been a sharp decline in economic activity causing unemployment to soar and economic output to contract significantly. Most economists are predicting a sharp economic recession in 2020 as a result of the pandemic's impact on the global economy.