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Unmitigated, in the second quarter that the economy in many countries experienced a deep contraction to recession. Here are a number of countries that have experienced a recession due to the Covid-19 pandemic: (Also read: In the Middle of the Pandemic, Indonesian Students Wins 4 Medals at the International Chemistry Olympiad)
The economy of the United States (US) was negative 32.9% in the second quarter of this year. This contraction is much sharper than the first quarter which recorded minus 5%. This weakening became the deepest in output since the government recorded the economy in 1947, the superpower was experiencing an economic recession.
As a result West Texas Intermediate crude oil futures settled USD41.35 or 3.27% lower after falling more than 5% at the start of the session. Brent crude oil futures fell 81 cents at USD42.94 a barrel.
“We have the potential for serious political uncertainty in the US if the election date is challenged,” Mitra Again Capital partner John Kilduff, quoted by CNBC, was quoted as saying on Saturday (1/8/2020).
Meanwhile, a sharp contraction occurred in consumption, exports, investment and government spending. Visible, spending that slips in quite deeply is health care or health and items such as clothing and footwear.
2. Germany
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