COVID-19 Economic Impact August 2020 Update
Our analysts and economists believe the short-term impact of the COVID-19 outbreak will be significant – impacting demand, investment and industry consolidation. Once the outbreak is brought under control, we expect annual growth trends to be similar to the pace we had anticipated before the outbreak hit.
A pandemic and quarantine — unprecedented in our lifetimes – has transformed the global economy and almost every industry in just a few weeks. While many industries have been deeply damaged by the pandemic, many others are seeing a surge in demand.
In this impact report Global Industry Reports provides an updated outlook for Global economic activity in 2020, 2021, 2022, 2023, 2024, 2025, 2026 & 2027 with comparisons to the forecasts made in February 2020, before Covid 19 cases began spreading in the US.
- COVID-19 Impact on Genetic Testing Market, growth/decline in product type/use cases of Genetic Testing Market due to cascaded impact of COVID- on Extended Ecosystem.
- Change in demand –
Before and After COVID-19 Crisis (Projected)
Before and after SARS Pandemic (Actual)
Before and After Sub-prime Crisis – 2008 (Actual)
Change in Demand post Recovery Period (After Each Crisis)
- Impact on Market Value (US$ Mn)
Likely Loss of Value in 2020
Mid-term and Long-Term Forecast
Quarter by Quarter Dip and Recovery Assessment
- Anticipated Demand and Value Recovery Curve
Likelihood of U-Shape Recovery
Likelihood of L-Shape Recovery
- Recovery Period Assessment by Key Countries
- Recovery Assessment by Key Market Segments
- Action Points and Recommendation for Suppliers
- Country specific data and analysis for United States, Russia, China, Germany, United Kingdom, France, Japan, Israel, Saudi Arabia, South Korea, United Arab Emirates, Canada, Switzerland, Australia, India, Italy, Sweden, Spain, Belgium, Netherlands, Norway, Italy, Brazil, Argentina, Mexico, South Africa and others.
- How top 100 companies in Genetic Testing Market are making rapid shifts in their strategies as we speak here…
- Outside-in view of top 100 companies client and client’s clients shifting short-term priorities
Updated annual growth rates are given for the following:
- Real Gross Domestic Product (GDP)
- Real Personal Consumption Expenditures (PCE)
- Real Construction Spending
- Real Manufacturer’s Shipments
- Light Vehicle Production
- Manufacturing Index
The Coronavirus epidemic emanating from Wuhan in central China has had tragic consequences and started to undermine domestic economic sentiment. While it is impossible to accurately predict the scale of this unfolding health crisis, the outbreak is a new wildcard for bulks demand in 2020. We think the restriction on labour movement will be a key mechanism affecting consumer demand and industrial production. Prolonged restrictions will undoubtedly be transmitted to markets for energy, industrial products, and raw materials. However, the experience of SARS in 2003 suggests the impact on overall economic activity in 2020 may be modest, with demand patterns in each bulks market being delayed rather than destroyed.
Let’s fight this crisis together.
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