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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.
Recovery from the recession began relatively quickly, with the recession only lasting one quarter according to the NBER. As of 2022, the unemployment rate reached its pre-pandemic levels - nevertheless, in many key aspects and industries, the U.S. economy has not completely recovered from the COVID-19 pandemic.
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 ...
Sky high inflation. Rising interest rates. Falling home purchases. Analysts are working to digest a host of signals about the state of the U.S. economy, which emerged from a pandemic recession ...
Before the COVID-19 pandemic hit the U.S., the Fed targeted the federal funds rate, or the rate at which banks lent each other money overnight, at 1.5% to 1.75%.
Families are more likely to feel like the economy is in a recession. Two-thirds of parents with children younger than 18 (66%) feel the economy is in a recession, versus 54% of adults with no ...
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 ...
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