The economic impact of the Covid-19 pandemic has been devasting to the global economy.During most recessions the more typical or normal behavior is for consumers to cut spending on discretionary items including technology goods and for businesses to delay investment in new PCs,equipment,to conserve cash and wait for capacity utilisation to recover.However,in the Covid-19 recession,we are witnessing new norms,including lockdowns,work-from-home,and remote education,which all contribute to a spike in technology spending.In comparison,we are seeing the largest reductions in real GDP come from declines in services(travel and entertainment,discretionary activities).
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