Economic recovery following Covid-19 may be more sluggish than initially predicted
by Paul Dennis
27 May
The global economy is expected to face a prolonged downturn due to the Covid-19 pandemic.
Many have predicted a U-shaped recovery as countries slowly ease restrictions. However, as the threat of a second wave of infections looms, the recovery may be more L-shaped with a sluggish recovery ahead.
Nouriel Roubini, Professor at Stern School NYU, shared an article containing his views on the damage caused by the Covid-19 pandemic.
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He noted that the economic recovery will not be U-shaped as claimed by many economists but rather L-shaped resembling a greater depression.
Roubini noted that an L-shaped recovery means the economy will contract sharply and stay there for an extended period of time.
Given the current climate, how long do you anticipate it will take for the global economy to recover post COVID-19?
- Less than one year
- One year to less than three years
- Three years to less than five years
- More than five years
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