This is how likely a coronavirus-driven recession is, according to economists

Mar 15, 2020

Pedestrians wearing face masks ride an escalator near an overpass with an electronic board showing the Shanghai and Shenzhen stock indexes, following an outbreak of the novel coronavirus in the country, at Lujiazui financial district, in Shanghai, China March 13, 2020. REUTERS/Aly Song - RC2SIF97XUIA

The true global economic impact of the COVID-19 outbreak still remains to be seen. Image: REUTERS/Aly Song

Romesh Vaitilingam

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Over 40% of respondents believe the COVID-19 outbreak will cause a major recession. Image: IGM Economic Experts Panel

The economic effects of COVID-19 coming from reduced spending will be larger than those coming from disruptions to supply chains and illness-related workforce reductions.

Almost 50% of respondents said that reduced spending would have bigger economic effects than disruption to supply chains or illness-related reductions in workforces. Image: IGM Economic Experts Panel

Many of the respondents believed that the Eurozone's economic policies were not prepared for the economic damage of the COVID-19 outbreak. Image: European IGM Economic Experts Panel

The European panel strongly agreed with likelihood of a major recession caused by the COVID-19 outbreak. Image: European IGM Economic Experts Panel

European experts believed that reduced spending would have a bigger economic impact than supply chain disruption. Image: European IGM Economic Experts Panel

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