Corona virus has impacted the world in many significant ways, and it has brought to the fore our basic human instinct: survival.
A global crisis is evident all around us, on news stations, articles, newspapers etc. Drastically low figures of stocks, businesses, GDP growth, [almost everything] seems to be on the decline, and all these points in the direction of a looming global recession.
As opposed to previous cases of recession; globally or limited to a specific country, which were caused by failure of banks, or a fall in the stock market, this one would be the result of a pandemic which slowed down global economies to a startling halt.
Side note: Do you also think this would have an effect on an individual level? Services such as in-house painting, furniture moving, plumbing work, food delivery etc from outside sources, the fear of contracting a virus could lead more people to take a more Do It Yourself approach and what impact would this have on home delivered services?
Even way before the pandemic, there have been talks about the economic crisis being around the corner, and banks could be blamed for that once more (and even for basically not learning much from the first time). Here's just an example of
an article in October 2019. So I don't think the pandemic is to blame for the crisis. It triggered the inevitable, definitely made it more serious than it could've been without it, but it's not the sole cause of the global crisis. As for DIY, people definitely started cooking more because of many places being closed, and some probably tried to fix stuff or make stuff on their own instead of buying it. I don't think, however, that this'll be the big trend.