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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 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 ...
The economic impact of the COVID-19 pandemic in the United States has been widely disruptive, adversely affecting travel, financial markets, employment, shipping, and other industries. The impacts can be attributed not just to government intervention to contain the virus (including at the Federal and State level), but also to consumer and ...
'The pandemic has exacerbated this trend' The health of a region’s economy is generally correlated with the size of its population, and the pandemic saw major population changes across the country.
The Sahm Rule, developed by economist Claudia Sahm, says that the US economy has entered a recession if the three-month average of the national unemployment rate has risen 0.5% or more from the ...
The COVID-19 recession was a major global economic crisis which has caused both a recession in some nations, and in others a depression. It is currently the worst global economic crisis in history, surpassing the impact of the Great Depression. The economic crisis began due to the economic consequences of the ongoing COVID-19 pandemic.
The National Bureau of Economic Research says a recession involves a "significant decline in economic activity that is spread across the economy and lasts more than a few months."
An inverted yield curve can indicate that a recession may be on the horizon as it has historically often preceded economic downturns with lead times ranging from several months to over a year. Especially the disinversion, a move back into positive territory for the spread between the shorter (e.g. 3-month or 2-year) yield and the longer (e.g ...