Economics

U.S. Worse Off Than Russia, Mexico in 2020 Economic Misery Ranking

China improves as Covid-19 modestly impacts 2020 forecast
Venezuela, Argentina and South Africa top the misery list

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By Catarina Saraiva and Michelle Jamrisko

August 6, 2020 at 9:00 AM UTC

Updated on

August 6, 2020 at 4:43 PM UTC

This article is for subscribers only.

The U.S. is projected to see the worst reversal of fortune this year in a ranking of global economic misery, underscoring just how much havoc the pandemic has wrought.

America fell 25 spots, from the No. 50 spot to No. 25, on Bloomberg’s Misery Index, which tallies inflation and unemployment outlooks for 60 economies. The drop comes as President Donald Trump fights for re-election while millions of Americans remain unemployed. Only Iceland, Israel, and Panama were even close to that level of deterioration in the annual rankings.

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