UPDATED April 17, 2020
Please download the latest chart book, A Bridge Past COVID-19 UPDATE: Charting The Economic Cliff.
As COVID-19 spreads across the globe, successive countries—78% of the world—have engaged in varying degrees of social distancing.
The consequences have been swift with job losses already dwarfing what was seen during the Global Financial Crisis. As a result, in Q2 we expect to see losses of at least 25 million jobs.
The strength of the recovery is dependent on several things any one of which is beneficial; all of which are better when combined:
- The ability to flatten the curve and return the healthcare system to normal functioning (via more effective treatment protocol, widely deployed)
- Widespread testing and contact tracing (regular testing of symptomatic and asymptomatic populations)
- Better knowledge and proven efficacy of serologic treatment (immunity passports)
- A vaccine and the ability to administer it to all regardless of health insurance coverage status
KPMG’s Office of the Chief Economist is continuously monitoring key developments in this unprecedented situation and refinements to the economic model occur daily. To learn about our current scenario analysis, including deep background on the underlying cause and effect dynamics, please download our latest report, A Bridge Past COVID-19 UPDATE: Charting The Economic Cliff.
Due to the rapidly evolving nature of this situation, we update our analysis frequently. Please check back often for our latest report.