An instant economic crisis: How deep and how long?

Analysis of a range of economic data tracks the worsening effects of the pandemic in the West—and the cautious reopening of social and economic life in China.

 
The human tragedy of the COVID-19 pandemic continues to deepen, with the heaviest toll now seen in Europe and the United States. Although testing remains limited, the number of confirmed cases of the virus worldwide has exceeded 1 million, and more than 70,000 have died. The United States, Italy, and Spain have the most confirmed cases and highest death tolls. Hundreds have died in each of the past several days in Britain and France. Healthcare systems in these relatively wealthy countries are strained beyond capacities, with shortages of protective equipment for health workers and ventilators for afflicted patients contributing to infection and mortality rates. Data from China suggest that the outbreak has been largely contained there; the government is cautiously reopening economic activity but is wary of the potential for new cases.

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Πηγή: mckinsey.com