Like other retailers, the software and computing giant had to temporarily close all of its stores in late March due to the COVID-19 pandemic.

In the best-case scenario, if there is no second wave of infections, the agency forecast a global drop in economic output of 6% this year, and a rise of 2.8% next year.

The global energy industry has been hit hard by the pandemic as the widespread limits on business, travel and public life reduced the need for oil, gas and other fuels.

The drop compares to a 4.8% contraction in the U.S. during the first quarter as the shock from the outbreak hits economies around the world.

Dampening hopes for discovery of an effective treatment for the virus, results of a Chinese study on the antiviral drug, remdesivir, found no positive effect.

Worldwide the number of reported infections hit another gloomy milestone -- 1 million, with more than 53,000 deaths, but the true numbers are believed to be much higher because of testing shortages.

The Business Council of British Columbia has slashed its economic growth forecast for the province, warning recession is possible under a worst-case scenario.