Impact from lockdowns to get more severe

Recession worry: A woman and child walking past shuttered downtown clothing shops in Los Angeles. In the United States, there is a lot of uncertainty on how things will turn out, as the control measures involve social distancing and closure of shops only. — AFP

DAY in, day out, we are warned of “more pain to come”, markets and economies in “free fall”, and “the deepest recession on the record.”

Swift on the heels of news that Covid-19 infections worldwide had hit over a million, came the latest data of 10 million US jobless claims in two weeks.