Question

 

Do you believe the CT economy is positioned any better or worse than most other state economies in regards to being able to weather this economic storm unleashed by the Coronavirus?

Answer 1

The CT economy is poorly positioned than most other state economies with regards to being able to weather the economic storm unleashed by the Coronavirus. The economy has become stagnant. The employment level has also gone down and it is expected that it might affect the economy for one decade. It is the largest industry that has been affected by the Coronavirus pandemic. The recent financial crisis has negatively impacted CT's state budget.

The spread of the novel coronavirus has upended the state’s tourism industry since museums and other sites were temporarily closed in order to comply with the social-distancing rules. Another dark spot is the double-digit drop in the value of shares traded on Wall Street. It has left the investors feeling a bit poorer than a few weeks ago and this in turn is more likely to avoid large purchases. If the corona virus fades in summer but returns with the cold weather is autumn, it might affect the economy even worse. Thus, Connecticut's $284million economy which benefitted from lowunemployment, large scale and strong manufacturing base has been worsely affected by the corona virus outbreak which has affected the economy both financially and psychologically.