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The COVID-19 pandemic resulted in an immediate decrease in the number of product offerings by consumer goods manufacturers, and change in business decision making by many producers that the Wall Street Journal said was likely to be long-term.
Due to the COVID-19 pandemic, Congress and President Trump enacted the $2.2 trillion Coronavirus Aid, Relief, and Economic Security Act (CARES) on March 18, 2020. The Congressional Budget Office estimated that the budget deficit for fiscal year 2020 would increase to $3.3 trillion or 16% GDP, more than triple that of 2019 and the largest ...
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 COVID-19 pandemic has taken a sharp economic toll on the retail industry worldwide as many retailers and shopping centers were forced to shut down for months due to mandated stay-at-home orders. As a result of these closures, online retailers received a major boost in sales as customers looked for alternative ways to shop and the effects of ...
The weakening reads on the consumer are also being reflected in the stock prices of consumer-centric companies. Shares of discretionary retailer Macy's, for example, have shed 16.5% in the past ...
The effects of the COVID-19 pandemic, a global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS CoV‑2), have been broad, affecting general society, the global economy, culture, ecology, politics, and other areas. These aspects are discussed across many articles:
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.
In early March, the UK government supported a strategy to develop herd immunity to COVID-19, drawing criticism from medical personnel and researchers. [105] Spooked by wildly exaggerated forecasts by the Imperial College COVID-19 Response Team [ 106 ] that the demand for intensive care beds would exceed the inventory by 7.5, [ 107 ] around 16 ...