Question

What's your opinion of the economy now?

Answer 1

Ans .

Economy has slowed down and there is a high chance of recession in the future because of the global pandemic , which is COVID-19 (coronavirus) where most of the business's are taking a hit and the cash flow is getting restricted and also the debt is rising every day. Government spending ihas increased considerably mainly to tackle this pandemic, and because of this the government reserves are decreasing . The Airlines industry took the worst hit because of this pandemic/ outbreak. Purchases made by consumers are at all time low which caused consumer durables to be highly vulnerable and because of the lock downs , which the states are implementing. This lockdowns and shutdown will heavily impact industries , like transport, airlines, music, entertainment , sports etc. A 2008 scenario might occur if the government does not take any preemptive measures to make the impact some what less.