• April 30, 2020

How Coronavirus Is Affecting the Economy

The Coronavirus pandemic has touched all areas of life. It’s changed how we work, how we shop, how we exercise, and then there’s the small matter of everyone being confined to their homes. Perhaps the biggest impact beyond the virus itself has been seen in the economy. It comes as little surprise that conditions that grind the working world to a halt will have a knock-on effect on the economic situation.

The good news is that this economic downturn has been caused by external conditions, rather than inherent flaws in the system. So with a bit of luck, things should bounce back pretty quickly once the lockdown conditions have been lifted.

Still, it’s likely that some industries will need some time to recover. Aviation companies have been hit particularly hard, since the cost of running this industry is expensive, and if there’s no-one flying, then there’s no income whatsoever; at least other sectors can make money in other ways. The oil companies have also seen a dip in value because consumption of their products has fallen significantly.

But not all industries are performing badly. Indeed, some have actually recorded growth. Real estate in Orlando, for example, has improved; median prices have gone up by 8%, while sales by volume went up by 9%. To learn more about the economic impacts of coronavirus and lockdown, check out the infographic below, which outlines which industries have a long road to recovery and which ones are doing well, even under difficult global conditions.

Infographic Design By click here

A pretty interesting post, huh?

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