Global COVID-19 crisis index June 2020

As of June 9, 2020, the coronavirus outbreak posed a level seven threat to businesses, meaning that severe and widespread economic impacts were likely. The composite index, which has level ten as its highest warning, was raised to level six on March 12 and to level seven on April 13.

Strong plans needed in response to coronavirus

Countries are taking small steps on the road to economic recovery by gradually lifting lockdown measures. Manufacturing firms were among the first to return to work, and governments are now permitting shops, bars, and restaurants to reopen. However, there is no guarantee that consumers will return to their normal habits. In order to reduce the risks, businesses are being encouraged to activate contingency plans that include separating all essential operations from non-essential and focusing on high-priority areas and clients.

A focus on the U.S. economy

COVID-19 has left the United States facing an economic crisis, and the country’s GDP fell by 4.8 percent in the first quarter of 2020. Record numbers of Americans have lost their jobs during the pandemic, and the unemployment rate jumped to 14.7 percent in April 2020. The Dow Jones, which monitors the stock prices of the 30 largest companies in the United States, has rallied since the U.S. economy restarted but continues to feel the effects of a destructive period that wiped out years of gains in a matter of weeks.