4 Types of Economic Damage Experts Predict From COVID-19

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The coronavirus pandemic has upended lives and livelihoods and will leave long-lasting damage to the U.S. economy, analysts warn.

The Brookings Institution think tank predicts that people will travel less, businesses will space workers and customers apart, restaurants will serve fewer customers at once and stadium-filling sporting events and concerts will remain off-limits for a long time.

“Even if the rules allow, many people may be reluctant to return to life as it was before the pandemic,” Brookings says.

Memorial Day weekend crowds thronged lakes and ocean beaches just days before the national coronavirus death count passed 100,000. However, a recent Kaiser Family Foundation Health Tracking Poll found few Americans eager for a full return to normal.

While many want to get their hair trimmed and see a doctor, fewer than 1 in 3 this summer expect to stay in a hotel, fewer than 1 in 4 plan to fly and fewer than 1 in 5 expect to attend a concert or sporting event, according to survey results.

The Brookings report identifies four broad categories of damage to the U.S. economy. Here’s a look at each.

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