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How Does The Global Economy Recover After This Global Pandemic?

Politics / Pandemic Sep 10, 2020 - 12:56 PM GMT

By: Submissions

Politics

Coming into 2020, the global economy seemed to be in a good position as a whole, with the majority of countries reporting steading GDP growth and for 2020 to be a success for business and local economies. However, with the world being put into a medically induced coma as lockdown to ensure that the spread of the global pandemic cause by Covid-19 would be minimised it ensured that 2020 didn’t go to plan, and certainly not for economies either.


Majority of economies have been on their knees for the past couple months now and governments have been working tirelessly on how to get economies up and running again, for example, in the UK, they announced the “Eat Out To Help Out” scheme in which all food is 50% off to encourage people to spend their disposable income in the hospitality sector which was one of the worst hit during the height of the pandemic.

The economy was in its worst states it has been in since records have begun, with it being estimated that the economy shrank by more than 25% in March and April which are very scary numbers for business owners. Although it will take a considerable amount of time to get back to the levels of growth we were experiencing pre-lockdown, probably years in fact, but this could be worsened even further if we ever experience a second wave as the economy’s lost input will be affected even further.

However, it’s not all doom and gloom, in fact it’s surprising to know that by the end of June, after the main lockdown months, the global stock markets were actually almost back to the record highs seen at the beginning of 2020. This might have been due to the fact that many entrepreneurs seen this pandemic as an opportunity to invest – something that will have certainly paid off already.

Some sectors have benefitted from the lockdown restrictions due to many being stuck at home with limited forms of entertainment being possible due to social distancing rules preventing this. Online casinos however, especially at The Best Casinos, have pounced on this and have used the lockdown to their advantage in where entertainment has been at a premium. This isn’t a trend that experts are expecting to slow down now lockdown has been eased.

By Adam Walker

© 2020 Copyright Adam Walker - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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