Question

Essay of the economy in the USA in a time of pandemic.

Answer 1

Many countries are struggling to contain the spread of the COVID-19 epidemic while avoiding a dramatic decline in economic activity. The COVID-19 pandemic has, with alarming speed, dealt a heavy blow to an already weak global economy.it is expected to slide into its deepest recession since the second world war. Economic impact of the COVID-19 pandemic in the United States. It affects the travel, financial markets, employment, a number of industry and shipping. Three sectors that are heavily affected due to COVID-19 are

1. Direct impaction on the production

2. Supply chain and market disruption

3. Financial impact on firms and financial markets.

Delayed production and shipment creates financial problems for company with heavy debt. Especially in the United States of America

The record long USA expansion over 11 years is almost over facing deepest recession atleast in eight decades.

USA economy shrank at 4.8% anualised pace in the first quarter. There is a discussion between US government and government how to lifts restrictions on companies and schools that are shut down from the long. This pandemic took jobs from common people make them unemployment. But few reports came in June 2020 that the USA unemployment rate dropped to 11.1% from an all time high 14.7% reached in April.

All though cases of covid- 19 patients gradually being decreased. Government is planning a concrete roadmap to overcome whole situation soon.