World Health Day: Analyzing US economy after COVID-19

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The ongoing coronavirus pandemic has disrupted global economic growth. Around the world, all countries are facing problems due to lockdown. In the global economy, the U.S. economy plays a significant role, and currently, it is sinking.

OnĀ World Health Day, let us take a view on it to post the COVID-19 crisis.

In the last couple of weeks, U.S. growth financial product output has reduced around 35 percent. The manufacturing sector shrank to its lowest since 2009.

All the sectors are facing the heat of coronavirus pandemic, whether its aviation, tourism, hospitality, service, manufacturing, finance, etc. Consumer confidence is dropping drastically and reached five year low. The Bank of America has forecasted the deepest recession after 1930. The fundamentals of economics are indicating it. The U.S. economy will not jump as it crashed.

Things to Know:

  • President Donald Trump said the coming two weeks are harrowing. Several death tolls will surge.
  • The U.S. is the epicenter with more than 460,000 confirmed cases and around 16000 death.
  • More than 15 million people lost their jobs. Moreover, they registered for unemployment benefits.
  • Federal Reserve announced a $2.3 trillion financial relief package. Benefits of extending to small businesses, unemployed and staggering U.S. economy.

Its World Health Day today, but the health of the complete globe is not good.

  • Round the world, Policymakers are making policy and announcing relief aid.
  • They aim to lower the impact of coronavirus on the economy.
  • Businesses are not even able to make revenues to their breakeven point.
  • All activities are under shutdown due to lockdown throughout the nations.
  • More than 85% of the world population is under lockdown due to pandemic.

Today on world health day, we all should pledge to follow lockdown rules and fight the coronavirus.

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