Global | The economic cost of coronavirus lockdowns

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What you'll learn

  • Widespread lockdowns and social distancing in economies affected by the coronavirus outbreak are set to cause a massive negative short-term impact on
    consumer spending and GDP
  • A large chunk of consumer spending is discretionary and so is very sensitive to being postponed or lost completely due to quarantines and social distancing
  • The early evidence from China supports the idea that up-front effects will be large, with retail sales down 20% y/y in January-February and industrial output over 13% lower, thanks to widespread factory closures

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