COVID 19- Is the start of the next recession?

The beginning of the year 2020 has been on the worst possible note for us all around the world. The start of this year marked one of the most tragic events that mankind has seen in centuries.

The coronavirus began spreading faster than we could have imagined in our worst nightmares taking killing many innocents around the world. The virus is claimed to be a new one that belongs to the family of coronavirus.

The beginning of the pandemic

The coronavirus is believed to have started from the city of Wuhan in China. There are many speculative theories about the spread of the disease with many claiming it that the virus was transmitted to humans by the pangolins from a food market in China. This has been lately confirmed by the WHO as well.

Soon there were cases in other provinces of China. Before we could even notice countries far away from China in Europe and the US started declaring cases of coronavirus. Soon the virus went on a killing spree and transmitting itself like haywire.

With the number of deaths rising each day like shares prices in a stock exchange all the affected countries decided to have a nationwide lockdown. And since the invisible virus has dictated our lives.

People are being forced to stay indoors. Many marginal and seasonal workers are the most affected due to coronavirus. This is causing a great financial burden for small and medium-class families.

What lies ahead?

But even in these dark times, we have been able to fight the virus by staying indoors. Many analysts and experts are saying that the most difficult phase of the lockdown may be over. Signs of improvement can be seen all around the world. This is evident from the fact that recently some countries in Europe like Spain, the US, and even China have relaxed some of the lockdown measures.

Unknown to the fact our lives have been changed by this virus attack. If you want to see how our lives have changed in many ways then click- COVID19. In this discerning phase which seems to be over, we have to come to see many difficult phases of our lives. Struggling financially, physically, and mentally our minds have become stronger now. As the lockdown eases we all hope that our lives will be back to normal.

Beginning of recession?

The world last witnessed the stock market crash in the year 2008 when the real estate bubble burst in the US. Many say that the economic slowdown due to coronavirus pandemic is the start of an even bigger worldwide recession.

Since the beginning of the attack, the coronavirus crippled many small scale and medium scale industries. Many even went bankrupt. Experts say that mankind in almost on the verge of a global economic slowdown. Whether it will turn in to a recession remains to be seen.

But what has impacted us is the way we used to live. As the lockdown begins showing signs of relaxations there are some of the important things to do. To see the full article on the most important things to do post lockdown period click on-LOCKDOWN EASES.

As far as the recession is concerned we have been taken aback. The world economy is showing forecasts of negative growth percentages in the next few quarters. As the lockdown comes to a close the government will have to spring back the economy back to its feet with suitable monetary packages for industries, marginal workers, and poorer sections of the society. If the government can successfully implement the relief packages then we might be able to fuel the economy forward faster.