The Australian economy is in recession following nearly 3 decades of stable growth. (Photo: xinhua/VNA)

Reuters conducted the survey of more than 500 economists between July 3 and July 29.

More than 17 million people have contracted the coronavirus globally, 600,000 of them have died. This has forced many countries to tighten travel measures, leading to continued economic recession risks.

The US, the world's largest economy, is in danger of facing the biggest decline due to the rising of new infection cases. The US dollar has dropped to the lowest level over the past two years.