COVID-19 recession

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Coronavirus recession

Map showing real GDP growth rates in 2020, as projected by the International Monetary Fund
Date	20 February 2020 – present
Location	Worldwide
Type	Global recession
Cause	COVID-19 pandemic-induced market instability and lockdown
Outcome	Sharp rise in unemployment 2020 stock market crash Collapse of the tourism industry Collapse of the hospitality industry Collapse of the price of oil Destabilization and collapse of the energy industry Increase in government debt Major downturn in consumer activity Market liquidity crisis

The coronavirus recession, also known as the Great Lockdown^[1] or Great Shutdown,^[2] was a major global economic recession affecting the world economy in 2020^[3][4][5] during and as a result of the COVID-19 pandemic.^[6][7]

1. ↑ "The Great Lockdown: Worst Economic Downturn Since the Great Depression". IMF Blog. Retrieved 16 April 2020.
2. ↑ Wolf, Martin (14 April 2020). "The world economy is now collapsing". Financial Times. Retrieved 15 April 2020.
3. ↑ Islam, Faisal (20 March 2020). "Coronavirus recession not yet a depression". BBC News. Retrieved 16 April 2020.
4. ↑ Hawkins, John. "How will the coronavirus recession compare with the worst in Australia's history?". The Conversation. Retrieved 16 April 2020.
5. ↑ Stewart, Emily (21 March 2020). "The coronavirus recession is already here". Vox. Retrieved 16 April 2020.
6. ↑ Islam, Faisal (20 March 2020). "Coronavirus recession not yet a depression". BBC News. Retrieved 26 March 2020.
7. ↑ "The coronavirus recession has arrived". The Canberra Times. 25 March 2020. Retrieved 26 March 2020.