The global economy is also on course for its worst year since the end of the Second World War, Capital Economics said.
Redwood of Capital Economics wrote that while the supply-side of the economy will probably recover quickly as people return to work once the pandemic passes, there may be a lagging problem with demand.
Demand could be subdued by lingering fears of a second wave of the virus, Redwood said. Demand for travel may weaken, firms will begin to pay back the loans that saved them, and more public debt could beget another period of government austerity. "However, with demand weakness lingering, it may well take a few years to get back to where we were and even longer for some economies. Moreover, the world that follows may be fundamentally different in many respects, such as the role of the state and the future of globalization."
Cover your mouth and nose with a tissue or bent elbow when coughing or sneezing. Discard the tissue immediately and clean your hands.Stay at home if you feel unwell, even with mild symptoms such as headache and runny nose, to avoid potential spread of the disease to medical facilities and other people.
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