How Coronavirus Is Impacting the Global Economy:

Coronavirus Is Impacting the Global Economy  which has engulfed nearly the entire world and carries severe consequences for countries’ populations and economies, is uncertainty. The IMF recently published the World Uncertainty Index for 143 countries from 1996 onwards. The index is constructed by counting the number of times the term ‘uncertainty’ is mentioned in connection with the terms ‘pandemic’ or ‘epidemic’ in the Economist Intelligence Unit (EIU) country reports. The study reveals that the coronavirus is associated with the highest level of uncertainty in the economic context since the index started recording data.

 Statics How Coronavirus Is Impacting the Global Economy

     

Millions of workers in these countries are facing the bleak prospect of losing their jobs. Governments are considering and rolling out large stimulus packages to avert a sharp downturn of their economies which could potentially plunge the global economy into a deep recession. In the worst-case scenario, the world economy could contract by 0.9 per cent in 2020," the DESA said, adding that the world economy had contracted by 1.7 per cent during the global financial crisis in 2009.

The analysis noted that before the outbreak of the COVID-19 How Coronavirus Is Impacting the Global Economy, world output was expected to expand at a modest pace of 2.5 per cent in 2020, as reported in the World Economic Situation and Prospects 2020.

The global economy could shrink by up to 1 per cent in 2020 due to the coronavirus pandemic, a reversal from the previous forecast of 2.5 per cent growth, the UN has said, warning that it may contract even further if restrictions on the economic activities are extended without adequate fiscal responses.

Positive Coronavirus Economic Impact:
Streaming Platforms
It has found that some of the biggest streaming services gained an unprecedented rise in searches during March by 87.6% on average. Compared to February, searches for Disney+ grew by 232%. Disney+ was launched last year and has taken an early lead in the battle of second-wave streaming services. 
HBO branded search has gone up by 84%, which may be connected to the company’s several high-profile premieres in March. In comparison, at 83%, Netflix saw a little less increase than its rival. The most surprising boost, which saw branded searches up 122%, was shown by Kanopy. 

Online Gambling
While people are spending more time indoors, the gambling industry is growing.  spending on online wagering has increased by 67% during the past week, compared to average weekly spending. 

The online gambling is indeed on the rise as traffic to gambling websites increased globally by around 9% during the month of March. Gambling sites are now booming and seeing a positive coronavirus economic impact.