Coronavirus Recession
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A Coronavirus Recession is an global economic recession due to the 2019–20 Coronavirus pandemic.
- Context:
- It can be composed of a U.S. Coronavirus Recession, Italian Coronavirus Recession, Spanish Coronavirus Recession, ...
- See: Global Economy, Quarantine, Economic Recession, Socio-Economic Impact of The 2019–20 Coronavirus Pandemic.
References
2020
- (Wikipedia, 2020) ⇒ https://en.wikipedia.org/wiki/Coronavirus_recession Retrieved:2020-4-3.
- The Coronavirus recession, also known as Corona Recession is an economic recession which started affecting the world economy in 2020 due to the 2019–20 coronavirus pandemic. It is one socio-economic impact of the 2019–20 coronavirus pandemic. While economic data takes time to be collected, many economists agree that the recession is already happening. This has also been supported by findings from surveys of purchasing managers in the United States, Europe and China. The United States currently has almost five times as many unemployment claims as during the previous peak in 1982. IMF managing director Kristalina Georgieva on March 24 declared in a statement that the global economy will contract in 2020 and this "recession [is] at least as bad as during the global financial crisis or worse." Almost 80 countries have asked the IMF for help. [1] Many countries with large economies, such as Italy and Spain, have enacted quarantine policies. This has led to the disruption of business activities in many economic sectors. Developing countries are also forecast to be severely impacted by the coronavirus. [2]
- ↑ IMF forecasts 2020 global recession, recovery in 2021
- ↑ Forecasting the Economic Impact of Coronavirus on Developing Countries. Political Economy - Development: Health eJournal. Social Science Research Network. Accessed 30 March 2020.