KING: A grim economic forecast from the International Monetary Fund. The IMF says global growth this year expected to shrink to its lowest point since the Great Depression. Richard Quest joins us with more on that. Pretty bleak outlook, Richard.</s>RICHARD QUEST, CNN BUSINESS EDITOR-AT-LARGE & CNN HOST, "QUEST MEANS BUSINESS": Extremely. A catastrophic outlook is the way the fund describes it, John. There's two sides to the equation. This year will be worse than expected. The actual downturn will be worse. And next year, the uptick will not be as good as they'd hoped. There are two reasons. First of all, simply they undervalued the numbers so far. But more worryingly, they now expect social distancing and mitigation measures to have to be further and longer and deeper than originally. That's why, John, if you look at the way they define this, what's happened has happened. But the worrying part is what goes on forward. You're seeing this today. You're seeing it in the news from New York, New Jersey and Connecticut, the sort of announcements taking place in this country at the moment. They are going to make recovery harder because the situation is worse than expected, not just here but elsewhere. And that's why the IMF says this is a catastrophe.</s>KING: Catastrophe. Look at the numbers on the screen. Global growth shrinking. A tough stretch and a long stretch ahead of us. It will be tough. Richard Quest, thank you very much. Appreciate the reporting. Don't forget, for the latest stock market news strategy for your portfolio, check out "MARKETS NOW," streaming live 12:45 p.m. Eastern, only at CNN Business. Stay with us.
Grim Economic Forecast from IMF.