Sean
Covid is a public health crisis that has changed all aspects of everyday life, including education, work-life balance, and most drastically, the economy.
The economy has been affected in an unbalanced way. Different sectors are being impacted differently.
The retail and industrial sectors have been negatively impacted. Retail because there are stay-at-home orders and stores are only letting in a few people at a time due to social distancing requirements. GDP has reduced significantly by almost 20%. GDP is a monetary measure of the value of all the goods and services produced by a nation in a specific period. To counteract the negative impacts the fed lowered interest rates to try and boost lending and spending.
On the other hand, the internet and entertainment sectors have thrived with companies like Zoom and Netflix showing record user numbers. The stock market has also done very well as all the stock market indexes have shown a steady rise to now of more then a 30% increase.
