A recent report indicates that the global pandemic has resulted in a staggering economic impact. The data shows that the GDP has shrunk by approximately 4.3% in the second quarter of this year, marking the largest decline in records dating back to 1960. This has led to a significant increase in unemployment rates, with more than 12 million people losing their jobs. Additionally, the report highlights a noticeable decrease in consumer spending, plunging by around 6.9% during the same period. These figures underscore the immense challenges faced by economies worldwide as they navigate through the ongoing crisis.