Pandemic Diseases

Pandemic could cost global economy $82 trillion in depression scenario

from Market Watch,

How badly will the coronavirus pandemic impact the economy? Does $82 trillion sound not good?

That is the scary number put out by the Centre for Risk Studies at the University of Cambridge’s Judge Business School. That figure, of course, needs to be put into context. That’s over five years, not one, and represents the potential hit to the global economy and not just the U.S. in what’s called the “economic depression” scenario. The GDP for the world’s 19 leading economies was $69.2 trillion last year. Its “optimistic” take is a loss of $3.3 trillion over five years. It says the consensus expectation calls for $26.8 trillion, or 5.3% of five-year GDP, to be lost. For the U.S., the potential five-year loss ranges from $550 billion to $19.9 trillion.

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