facebookWith the increasing number of companies freezing salaries and hiring, will the economy likely go into recession due to covid-19? - Seedly

Anonymous

28 Feb 2020

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With the increasing number of companies freezing salaries and hiring, will the economy likely go into recession due to covid-19?

How deep will the recession be? How long will it last?

Discussion (4)

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Andy Sim

28 Feb 2020

HR Professional at a Financial Institution

With the outbreak of the virus, global consumption is seeing a big pullback as a result of the travel restrictions/lock downs etc. which has a ripple effect onto Singapore's (and perhaps most other countries' economies. So there's a chance Singapore will go into a recession if the virus situation gets more severe or drags on for longer.

No one can predict how long will the recession be but I believe it will last for about 1 to 1.5years.

Very likely. I'm monitoring my company new PO everyday as it used to be a good indicator in last economy crisis.
I'm preparing this downturn probably will last 1-2 years.....

Alex Chua

28 Feb 2020

Seedly student Ambassador 2020/21 at Seedly

Recession often related to reduce in economic activity.
As long as the world continue to run as usua...

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