The latest update Note from Dr Shane Oliver – the chief economist at AMP Capital – looks at the hit to economic growth from the coronavirus and whether it’s a recession or a depression or something different altogether. The key points are as follows:
- Global share markets have fallen into a bear market, but whether this turns out to be long or short depends on how long the hit to the economy from the coronavirus lasts.
- There are big differences between the current disruption to economic activity – which could be very deep in the short term – and past recessions and depressions.
It is an easy to read article and I recommend it to you.