The Great economic shutdown : a quarter of the cake gone

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      <subfield code="a">We estimate the shutdown measures in place today on account of the Covid-19 outbreak are leading to a 20-25% reduction in economic activity in most advanced markets. The different sector compositions of countries will be a main factor in determining the size of the impact. Emerging markets are likely impacted more given their larger (in relative terms) consumer-facing sectors. Meanwhile, large public services and manufacturing sectors will contribute to stronger resilience in some other economies</subfield>
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