The economic crisis is a direct result of the pandemic, so a recovery would be dependent on how quickly life can safely return to normal, with businesses opening back up to stimulate the economy.
New Zealand could be used as an ongoing case study on how a recovery process would be in other nations. The country responded quickly and efficiently to the outbreak and were able to adequately contain it with minimal cases and deaths, this strict measures however resulted in an national recession - New Zealand plunges into recession as economy shrinks record 12pc - the next phase would be rebuilding. How the economy would react would give an idea of how recoveries would happen in other nations.

This pessimism could have an adverse effect on an economic recovery. If majority of the populace fear a possible economic downturn or relapse, it could result in panic, affecting SME and macroeconomic indicators, regardless of the growth in gross output statistics.