It’s been about two months since the US began sweeping lockdowns to contain the spread of coronavirus The economic pain of the coronavirus-induced recession swiftly overtook that of the Great Recession in that short time as millions of Americans have lost jobs, businesses remain frozen, and consumer spending has taken a major hit. See below for five charts that show how the coronavirus-induced economic downturn compares to the Great Recession. Visit Business Insider’s homepage for more stories.
It only took a few weeks for economists to agree that sweeping shutdowns to contain the spread of the novel coronavirus had plunged the US economy into a recession.
Now, just two months since the first stay-at-home orders began, the ensuing downturn has surpassed the Great Recession that