COVID-19: Economic downturn and recovery

Statista DossierPlus on the impact of the coronavirus on the global economy

COVID-19: Economic downturn and recovery The DossierPlus analyses the economic downturn triggered by the COVID-19 outbreak and the current forecasts for the global economic recovery.

The current COVID-19 pandemic has not only had an immense impact on our social life but on the global economy as well. The latest forecasts predict a four-percent global GDP decrease for 2020 and a slow recovery – in which case the recession caused by this pandemic might be worse than the 2009 global recession. Based on these forecasts, the world economy is expected to recover by 2021, but for some countries, including the United States, Germany, and Italy, recovery is predicted to take longer. Furthermore, according to the ILO, in a high impact scenario, the global labor market will also be hit harder than during the great recession in 2008-2009, as the increase in global unemployment could reach nearly 25 million.

As the confidence in future company performance has weakened, stock markets around the world have already seen a downturn. This is unprecedented, as no outbreak has ever had such a severe influence on the global stock markets before. The announcements of governments about supporting their national industries with economic aid packages brought short relief to the stock markets but haven't managed to stabilize stock prices long term. Industries hit especially hard by the pandemic are travel and tourism and the leisure industry.

There are also industries the products and services of which are highly valued at this time. Companies that assist home activities, such as Zoom supporting connectivity, Netflix providing home entertainment, or Blue Apron, the ingredient-and-recipe meal kit service, have seen a surge in stock prices.

COVID-19 cases so far:

Content

Data covered in this DossierPlus:

  • Global economic downturn and recovery
    • Timeline of events
    • GDP forecasts
    • Unemployment scenarios
  • Impact on global markets: Stocks and bonds
    • Stock markets
    • Bond markets
    • Impact of other diseases on stock markets
    • Other historic bear markets
    • Time till recovery based on historic bear markets
  • Industries most affected
    • Airlines
    • Tourism
    • Leisure and restaurants
    • "From home" market

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