Even if the US government has decided to shut down the economic activities for some time to fight against coronavirus, it’s still not sure whether the outcome will be good or bad. The US government decided to shut down measuring activities like hotels, parks, and many other people gathering places very lately. Health officials still haven’t found any cure for coronavirus, but the only hope for people and the government to fight against this virus is by staying home. Now experts are saying the reopening of the economy ultimately depends upon how much this lockdown will give good results. Public health officials have already stated that the number of coronavirus patients will be increasing in the upcoming weeks.
Economists also give their opinions based upon such data that health officials are providing a daily basis. The US Stock market has given negative results because of the increase in the number of cases of coronavirus. The rate of unemployment is increasing significantly, and more than 10 million people are reportedly said to be unemployed. There are still economic factors that will determine how the future condition is going to be because the majority of the companies operating in manufacturing, retailing businesses are even shut down. Government officials are already saying that countries like the United States of America can’t be kept in lockdown for months.
Since this shutdown will be severely impacting the overall economy of the country, the government needs to find some quick and best way to reopen the economy. The various States like Florida have already said that they will continue the shutdown activity until the 13th of April. There is a high possibility that other States will also follow this path, which means people might not be seeing the economy reopening for the next month. Trump administration is trying its best to fight against this pandemic situation by considering its impact on our marketplace.