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The COVID-19 recession was a global economic recession caused by COVID-19 lockdowns. The recession began in most countries in February 2020. After a year of global economic slowdown that saw stagnation of economic growth and consumer activity, the COVID-19 lockdowns and other precautions taken in early 2020 drove the global economy into crisis.
The Chicago Tribune reported in March 2020 that employees at UPS, FedEx, and XPO, Inc. were often pressured not to take time off, even with symptoms such as fever and cough consistent with COVID-19. Public health authorities stated the risk was relatively low to customers receiving packages, in part because COVID-19 does not live for very long ...
The COVID-19 pandemic caused far-reaching economic consequences [1] including the COVID-19 recession, the second largest global recession in recent history, [2] decreased business in the services sector during the COVID-19 lockdowns, [3] the 2020 stock market crash (which included the largest single-week stock market decline since the financial ...
Typically, a recession is defined by a decline in economic activity that lasts more than a few months, the NBER says. But the U.S. economy is still chugging along, with second-quarter GDP growing ...
The NBER officially calls U.S. recessions, and data from Bank of America shows why this group won't be in a rush to declare the U.S. economy in recession.
The much-anticipated recession of 2023 has yet to materialize. Some of the latest economic data point to more signs of strength than weakness. One strategist has a term for what that says about ...
The UK entered a technical recession in the final six months of 2023. [211] [212] Germany's inflation rate reached 11.7% in October 2022, the highest level since 1951. [213] In 2023, Germany fell into recession from January to March due to persistent inflation. [214] In France, inflation reached 5.8% in May, the highest in more than three ...
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