COVID-19 Economic downturn and recovery
Statista DossierPlus on the impact of the coronavirus on the global economy
The current COVID-19 pandemic has not only had an immense impact on our social life but on the global economy as well. Due to a widespread uncertainty and new circumstances, the pandemic brought the global economy to its knees, resulting in the biggest stock price collapse since the 2008 financial crisis. But while COVID-19 cases were still increasing, the second half of the year already started to bring partial economic recovery. Nevertheless, most advanced economies will face GDP losses, while some countries are still expected to grow.
As the confidence in future company performance has weakened, stock markets around the world have faced a harsh downturn in March. This is unprecedented, as no disease outbreak has ever had such a severe influence on the global stock markets before. But economic aid packages and promising vaccine news helped stock markets, against all expectations, to already return to a pre-crisis level within the second half of 2020.
However, this relief is not evenly spread across all industries. Some industries that were hit especially hard by the pandemic like travel, tourism, and the leisure industry are still struggling. On the other hand, companies and industries that assist home activities, such as Zoom supporting connectivity, Amazon providing e-commerce possibilities, or Moderna, one of the leading vaccine research companies, have seen a surge in stock prices.
Updated version: December, 2020
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