Another bit on the coronavirus, this time focusing on economic recovery predictions after the coronavirus pandemic. A swoosh recovery scenario is added into the growing realms of possibilities, with some experts agreeing that no matter how it recovers, there is nowhere for the economy to go but up; but changes are substantial. Here are some recent notable headlines:
Economist: Has covid-19 killed globalisation? The flow of people, trade and capital will be slowed
WSJ: In April, U.S. unemployment surged to 14.7%. Among women, the rate rose to 16.2%, compared with 13.5% for men. Economic shock hits lower-income households harder. Almost 40% of households earning less than $40,000 annually experienced at least one job loss in March, compared with 19% of households earning between $40,000 and $100,000, the Fed said.... U.S. retail spending fell a record 16.4% in April from a month earlier as consumers stayed home and demand plunged…. Germany fell into recession in the first quarter, with its gross domestic product shrinking by 8.6% on an annualized basis, but is nonetheless expected to fare better than its neighbors over the balance of 2020. The eurozone economy as a whole contracted by 14.2%, while the U.S. economy shrank by 4.8%.
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