Global Macro Service > Research Briefings > United States

Understanding the Global Coronavirus Recession

The Global Coronavirus Recession (GCR) marks the end of the longest US economic expansion on record, and it will feature the sharpest economic contraction since WWII. The sudden stop in private sector activity will be partially offset by massive public sector spending and unprecedented monetary policy stimulus, but even so, the employment losses will be traumatic, and the rebound post-virus will be U-shaped with a full recovery taking 12 to 18 months.

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