During the great recession period (2007 to 2009), the automotive industry was the most impacted chemical end market, with a peak-to-trough performance decline of 84 percent. The construction, and metals and mining chemical end markets also saw their performance decrease by 56 percent and 53 percent, respectively, during the great recession.

According to recent estimates, the most affected sectors by the coronavirus pandemic in Latin America would be wholesale and retail trade as well as services in general, such as tourism, foodservice, transport, and communications. In 2020, this group of most affected sectors was forecasted to represent more than 16 percent of Brazil’s gross domestic product (GDP). Among the countries shown in this graph, Brazil is the nation where sectors moderately affected by the pandemic could represent the highest contribution to GDP (75.8 percent).

Which Latin American economies were most vulnerable to the pandemic? In 2020, the economic sectors most affected by the coronavirus pandemic - wholesale and retail, hotels and restaurants, transport and services in general - were forecasted to account for 35.5 percent of Panama’s GDP. In addition, the moderately and most affected economic segments were estimated to contribute the most to Panama’s GDP (a combined 97.6 percent) than any other country in this region. A similar scenario was projected in Mexico, where the sectors that would least suffer the pandemic's negative effects would account for only 3.4 percent of GDP.

Did the pandemic put a stop to economic growth in Latin America? Economic growth changed dramatically after the COVID-19 outbreak. Most of the largest economies in Latin America fell under recession in 2020. Estimates predict a more optimistic scenario for 2021, with countries such as Mexico, Colombia, and Argentina growing their GDP at least five percent.

With the collapse of the U.S. housing market and the subsequent financial crisis on Wall Street in 2007 and 2008, economies across the globe began to enter into deep recessions. What had started out as a crisis centered on the United States quickly became global in nature, as it became apparent that not only had the economies of other advanced countries (grouped together as the G7) become intimately tied to the U.S. financial system, but that many of them had experienced housing and asset price bubbles similar to that in the U.S.. The United Kingdom had experienced a huge inflation of housing prices since the 1990s, while Eurozone members (such as Germany, France and Italy) had financial sectors which had become involved in reckless lending to economies on the periphery of the EU, such as Greece, Ireland and Portugal. Other countries, such as Japan, were hit heavily due their export-led growth models which suffered from the decline in international trade. Unemployment during the Great Recession As business and consumer confidence crashed, credit markets froze, and international trade contracted, the unemployment rate in the most advanced economies shot up. While four to five percent is generally considered to be a healthy unemployment rate, nearing full employment in the economy (when any remaining unemployment is not related to a lack of consumer demand), many of these countries experienced rates at least double that, with unemployment in the United States peaking at almost 10 percent in 2010. In large countries, unemployment rates of this level meant millions or tens of millions of people being out of work, which led to political pressures to stimulate economies and create jobs. By 2012, many of these countries were seeing declining unemployment rates, however, in France and Italy rates of joblessness continued to increase as the Euro crisis took hold. These countries suffered from having a monetary policy which was too tight for their economies (due to the ECB controlling interest rates) and fiscal policy which was constrained by EU debt rules. Left with the option of deregulating their labor markets and pursuing austerity policies, their unemployment rates remained over 10 percent well into the 2010s. Differences in labor markets The differences in unemployment rates at the peak of the crisis (2009-2010) reflect not only the differences in how economies were affected by the downturn, but also the differing labor market institutions and programs in the various countries. Countries with more 'liberalized' labor markets, such as the United States and United Kingdom experienced sharp jumps in their unemployment rate due to the ease at which employers can lay off workers in these countries. When the crisis subsided in these countries, however, their unemployment rates quickly began to drop below those of the other countries, due to their more dynamic labor markets which make it easier to hire workers when the economy is doing well. On the other hand, countries with more 'coordinated' labor market institutions, such as Germany and Japan, experiences lower rates of unemployment during the crisis, as programs such as short-time work, job sharing, and wage restraint agreements were used to keep workers in their jobs. While these countries are less likely to experience spikes in unemployment during crises, the highly regulated nature of their labor markets mean that they are slower to add jobs during periods of economic prosperity.

This statistic shows employment in Greece from 2016 to 2024, with projections up until 2026 .In 2024, around 4.28 million people were employed in Greece. Employment in Greece Just like the rest of Greece’s economy, the job market has been adversely affected by the economic crisis of 2008; it has been struggling to recover ever since. The majority of the Greek population lives in urbanized areas, but lay-offs and job cuts affect the whole country; the unemployment rate in Greece has been increasing dramatically all over the country and has almost tripled since 2009. Greece’s economy relies heavily on services; most of Greece’s gross domestic product is produced in that sector. The gross domestic / GDP growth rate in Greece, however, has not improved since 2009 – on the contrary, after falling to an all-time low in 2011, GDP is now even lower than in the year recession hit the country. Some of the most important industries for Greece are the maritime and shipping industries, as well as tourism. The export of goods has been on the rise, while imports have been decreasing, causing the trade deficit to improve slowly but steadily. Still, Greece is not out of the red and probably won’t be for some time. National debt in relation to gross domestic product is growing, and Greece is still ranked second on a ranking of countries with the highest public debt worldwide. Austerity measures and rescue packages from the European Union are now put in place to ensure Greece’s recovery from the crisis.

Technological progress has fueled online business activity and companies’ resulting demand for new software tools to enhance operations and customer interactions. Their increased investment in technology has fostered considerable revenue growth over recent years for business analytics and enterprise software publishers. However, macroeconomic factors have also induced volatility in revenue. The e-commerce surge and solid GDP growth amid the pandemic recovery raised corporate profit and, in turn, spending on software from various businesses. Many software providers have also been able to keep prices elevated since the need for software has consistently been very high, pushing profit upward since 2022. At the same time, the Federal Reserve's interest rate hikes between 2021 and 2023 to battle inflation led to fears of a recession. This prompted businesses to limit software investments and slowed revenue growth in 2023 and 2024. In late 2024, many economists reached the consensus that the US had achieved the desired soft landing. The industry has also been impacted by various long-term trends. The shift to cloud-based solutions, accelerated by the need to boost IT security during pandemic-induced lockdowns, has facilitated the use of advanced analytics and AI that allow companies to harness large data efficiently. Major players have incorporated AI features into their platforms to enhance functionality, driving demand for enterprise software providers’ services. Smaller software publishers, lacking the resources to invest heavily in new technologies, have increasingly focused on niche markets. Acquisition activity has also expanded, with companies like Salesforce and Microsoft expanding capabilities by acquiring specialized firms. Overall, revenue for business analytics and enterprise software publishing businesses has surged at a CAGR of 12.8% over the past five years, and is estimated to reach $253.0 billion in 2025. This includes a projected 5.1% rise in revenue in 2025. Moving forward, demand for business analytics and enterprise software across various sectors is expected to remain strong. However, the market is likely to become saturated, slowing revenue growth. Economic uncertainty, marked by the potential for a recession due to tariffs imposed in early 2025, might constrain software demand from the manufacturing and tech sectors. Cybersecurity investment will rise, with big players like Salesforce and Oracle enhancing defenses. AI integration will present new challenges, necessitating advanced infrastructure and skilled workers, which could increase operating costs for software publishers. Overall, revenue for business analytics and enterprise software publishers is anticipated to soar at a CAGR of 7.5% over the next five years, reaching an estimated $363.0 billion in 2030.

The material handling equipment industry has closely followed the ups and downs of the broader economy. In 2020, the sector faced a downturn due to pandemic-related disruptions, much like many other industries. However, unlike the sharp decline seen during the 2009 recession, the impact was less severe. The industry experienced a moderate decline, reflecting a more resilient response to economic challenges. Looking forward, between 2021 and 2022, the industry found its footing again as skyrocketing commodity prices fueled revenue growth. Overall, the industry is expected to grow at a CAGR of 1.7% to reach $58.2 billion in 2024. Despite these positive signals, the material handling equipment distributor industry is currently navigating through sluggish economic conditions. The Federal Reserve's aggressive monetary policy adjustments in response to inflationary pressures have cast a shadow over economic recovery efforts, impacting both general economic activities and the specific dynamics of equipment distributors. As a result, the industry faces ongoing challenges in stimulating demand, with expectations for subdued growth as economic uncertainties persist. As a result, the industry is expected to decline 2.1% in 2024. The industry stands to benefit from lower interest rates, which reduce borrowing costs and facilitate investments in equipment. Additionally, technological advancements, such as Automated Guided Vehicles and Autonomous Mobile Robots, will drive demand for more efficient handling solutions, expanding the market for distributors despite challenges from direct sales and competition from foreign manufacturers. Overall, the industry is projected to grow at a CAGR of 1.7% to reach $63.3 billion by 2029.

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Modular Data Centers Market Size 2024-2028

The global modular data centers market size is forecast to increase by USD 42.56 billion, at a CAGR of 19.8% between 2023 and 2028. The need to streamline traditional data centers is a major factor fueling market growth. Today, companies running single conventional data centers grapple with complex management and soaring capital costs due to sophisticated power and cooling systems. With the current economic recession, businesses are increasingly seeking cost-effective and scalable solutions. Modular data centers, with their standardized, portable designs, provide an ideal alternative that can be quickly deployed. Mobile network operators and colocation providers are among the leading users of these solutions. These modular setups are more environmentally friendly, thanks to their energy-efficient HVAC systems and IT equipment. As big data, AI, cloud computing, 5G, and IoT applications require higher operating temperatures, the flexibility and scalability of modular designs become even more crucial.

What will be the Size of the Market During the Forecast Period?

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Market Segmentation

By End-user

IT and Telecom is the Leading Segment to Dominate the Market

The IT and telecom segment is estimated to witness significant growth during the forecast period. In the global market, Modular Data Centers hold a significant share, particularly in the IT and telecom sector. These centers are essential for providing the required computing power and storage for various applications and services in the industry. With the rise of cloud computing, the demand for data centers has escalated, as businesses seek to access resources without substantial capital expenditure. The IT and telecom segment was the largest and was valued at USD 4.02 billion in 2018. The influx of data from businesses and individuals necessitates data centers capable of handling vast amounts of information. Recession or not, Modular Data Centers offer scalability and rapid deployment, making them attractive to mobile network providers and data center colocation providers. Green data centers, with their standard design and cooling systems, are increasingly popular due to their energy efficiency. Big data, AI, cloud computing, 5G infrastructure, Internet of things, and cloud-based solutions are driving the market's growth.

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North America Holds a Prominent Position in the Market

North America is estimated to contribute 30% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The Edge computing trend is driving the growth of the market in the US and Canada, particularly in the BFSI industry. Large enterprises are shifting towards energy-efficient data centers to minimize costs and CAPEX, opting for cloud solutions from hyperscale providers like AWS, Microsoft, and Oracle. As of 2021, the US hosts over 2,670 data centers, making it the global leader. Quicksilver Capital and the World Economic Forum highlight the importance of digital transformation in this context. These offer Scalable data centers for large enterprises, enabling them to meet their computing capacity requirements efficiently.

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Market Dynamics and Customer Landscape

They have emerged as a popular solution for businesses seeking scalability and rapid deployment during times of economic uncertainty, such as a recession. These data centers utilize a modular design, allowing for easy expansion and contraction based on demand. Green data centers, which prioritize energy efficiency, are a key focus in the modular data center market. Mobile network providers and large enterprises are major consumers, as they require cloud-based networking and 5G infrastructure to support digital transformation initiatives. The solutions sub-segment and services segment of the modular data center market are expected to grow significantly, as businesses increasingly turn to cloud-based solutions for their data storage and processing needs. The World Economic Forum has the importance of energy-efficient data centers in reducing carbon emissions and mitigating the environmental impact of digitalization. Quicksilver Capital and other investors have shown interest in the modular data center market, recognizing its potential for innovation and growth. Overall, the modular data center market is poised for expansion, driven by the need for scalable, energy-efficient, and quickly deployable solutions.

Key Market Driver

Requirement to reduce complexity of traditional data centers is notably driving market growth. In today's business landscape, enterprises operating a single traditional data center face

The development of credit banks in Germany over the last five years has been strongly influenced by several factors, including the transition from a prolonged period of low interest rates to significantly higher interest rates, the COVID-19 pandemic, the war in Ukraine and the recession of recent years. Industry turnover, which is made up of the interest and commission income of credit banks, has risen by an average of 17.1% per year since 2020. The strong increase in the last five years can be attributed to the following reason: For a long time, banks did not generate significantly higher income as the European Central Bank's (ECB) key interest rate remained at 0% for a long period of time. Only the significant increase in the key interest rate to combat inflation revitalised the traditional interest margin business. This then led to significantly rising growth rates in earnings. However, IBISWorld expects the positive sales trend to weaken in 2025, even if the higher base rate level, which improves interest income, is still clearly noticeable. Industry turnover is expected to increase by 3.6% year-on-year to 182.4 billion euros.Banks offered loans on favourable terms due to the low interest rates that prevailed for a long time. This increased the demand for loans and the lending volume in the sector rose. In addition, digitalisation has prompted banks to rethink their business concepts, which has led to numerous branch closures over the last five years. This has led to job cuts and savings. IBISWorld expects this trend to continue in the coming years and more banks to rely on the use of modern technologies for business processing.For the period from 2025 to 2030, IBISWorld forecasts average annual sales growth of 2% to 201.3 billion euros. The high level of key interest rates is expected to be mitigated by slight interest rate cuts to stimulate the economy, which will have a positive impact on the earnings situation of credit banks. The hoped-for economic recovery is not yet in sight. The International Monetary Fund anticipates further weak growth in the global economy this year, which is likely to hit Germany hard in a global comparison. As a result, there is also a risk that corporate customers, who are important for the sector, will demand fewer loans.

According to Cognitive Market Research, the global Construction Machinery Rental Market size will be USD 127154.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 6.50% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 50861.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 38146.26 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 29245.47 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.5% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 6357.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 2543.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.
The earthmoving category is the fastest growing segment of the Construction Machinery industry

Market Dynamics of Construction Machinery Rental Market

Key Drivers for Construction Machinery Rental Market

Escalating need for variable lease terms to Boost Market Growth

The industry is expanding as a result of the growing use of rental contracts that provide for the flexibility to scale equipment up or down as needed. This is especially helpful for contractors that have variable workloads. They can maximize resource allocation while modifying their equipment inventory to meet the requirements of their ongoing projects. Aside from that, every project is different and calls for particular kinds and amounts of equipment, which is why leasing is a recommended option for businesses. Furthermore, renting enables businesses to customize their equipment selections to meet the needs of certain projects, which is supporting the market's expansion. They can hire these pricey machinery for the length of the project rather than purchasing them, guaranteeing they have the right tools for the task without having to commit to a long-term lease. In addition, the world's booming construction industry is fueling the market's expansion.

Availability of cutting-edge technology to Drive Market Growth

Many rental companies are incorporating telematics systems into their equipment, which allow for remote monitoring of usage, fuel consumption, maintenance schedules, and even location tracking. Automation technologies like drones, self-driving automobiles, and GPS-guided machinery are becoming increasingly common in construction projects. Construction companies are offering these items for hire as tools to improve accuracy, safety, and productivity. Equipment producers are using better materials and manufacturing techniques to create machinery that is stronger, lighter, and more energy-efficient. Predictive maintenance algorithms are being added to rental equipment to anticipate and prevent faults before they occur. By proactively scheduling maintenance and tracking the condition of their equipment in real-time, rental companies can lower downtime and repair costs.

Restraint Factor for the Construction Machinery Rental Market

Building sector's vulnerability to a downturn in the economy

The effects of recession and downturn in the economy are common in the construction business. The business cycles of an economy, which experience many business cycles over their history, characterized by periods of high or low economic activity, have an impact on the market for renting construction equipment. The construction industry grows robustly and the construction equipment rental business sees exponential increases in profitability in economies that follow an expansionary trajectory. Conversely, when the economy is in a recession, the construction sector is negatively impacted since there is less demand from consumers, which lowers output. The market for renting out construction equipment is impacted by the consequent decline in construction operations.

Impact of Covid-19 on the Construction Machinery Rental Market

Covid-19 had a significant impact on the Construction Machinery Rental Market. Due to supply chain disruptions caused by go...

As of November 2021, the U.S. goverment dedicated 26.46 percent of the GDP to soften the effects of the coronavirus pandemic. This translates to stimulus packages worth 5.54 trillion U.S. dollars

Economic impact of the Coronavirus pandemic

The impact of the COVID-19 pandemic was felt throughout the whole world. Lockdowns forced many industries to close completely for many months and restrictions were put on almost all economic activity. In 2020, the worldwide GDP loss due to Covid was 6.7 percent. The global unemployment rate rocketed to 6.47 percent in 2020 and confidence in governments’ ability to deal with the crisis diminished significantly.

Governmental response

In order to stimulate the economies and bring them out of recession, many countries have decided to release so called stimulus packages. These are fiscal and monetary policies used to support the recovery process. Through application of lower taxes and interest rates, direct financial aid, or facilitated access to funding, the governments aim to boost the employment, investment, and demand.

Stimulus packages

Until November 2021, Japan has dedicated the largest share of the GDP to stimulus packages among the G20 countries, with 53.69 percent (308 trillion Yen or 2.71 trillion U.S. dollars). While the first help package aimed at maintaining employment and securing businesses, the second and third ones focused more on structural changes and positive developments in the country in the post-pandemic future.

In the fourth quarter of 2024, the unemployment rate in the information industry in the United States stood at 3.9 percent, increasing from 3.1 percent in the same quarter of 2023. In 2020, the tech industry was hit hard by the economic recession brought about by the COVID-19 pandemic, registering a record 12 percent unemployment rate during the second quarter. Information industry in the U.S. The U.S. information industry consists of those businesses involved in the production or distribution of information, those involved in providing a means to distribute information and data, and those involved in data processing. More specifically, the sector is comprised of six segments: publishing industries (except internet), motion picture and sound recording industries, broadcasting (except internet), telecommunications, data processing/hosting, and other information services. Employment in the U.S. information industry As a whole, the sector employs nearly three million people around the United States and accounts for a significant portion of the country’s entertainment industry. As unemployment has fallen, average hourly earnings within the sector have also risen sharply within the past decade, now amounting to almost 45 dollars per hour. This trend towards more favorable employment conditions comes at a time when union membership within the industry declined to 8.4 percent in 2022.

Petroleum products were the most affected commodities in terms of exports from India, with a decline of about 32 percent in January 2021, compared to the same month in the previous year. Other cereals and oil meals witnessed a highly positive change rate.

Global economic impact The outbreak of COVID-19 caused a massive economic recession, with six out of the seven largest economies showing a massive GDP loss in the third quarter of 2020. A slump in demand and changing consumption patterns shook international trade worldwide. Since March 2020, lockdowns became a global necessity, and the Indian subcontinent was no exception, announcing its first nation-wide lockdown by the end of March. Aimed at getting hold of the infectious chains, the lockdown resulted in a massive decrease in mobility, but also meant that livelihoods were disproportionately impacted. This was especially true for those with daily or hourly wages across the country.

COVID-19 impact on different sectors Reduced mobility and the unavailability of resources, due to restricted borders caused significant challenges to traditional retailers. The automotive industry, in particular, emerged as one of the worst impacted industries. Simultaneously, petroleum consumption decreased. Other industries such as healthcare or fast-moving consumer goods, were less affected due to their indispensability and local shopper clientele. E-commerce experienced a long-lasting benefit from the pandemic, as most online purchasers consider e-retail as a post-pandemic option.

Following a consistent growth in recent years, the overseas revenue of the animation industry in Japan reached a value of about 1.72 trillion Japanese yen for the first time in 2023. The combined value of the domestic anime market and the overseas anime market amounted to approximately 3.35 trillion yen in 2023, which was a new record for the industry. Exporting anime The anime industry is an important part of the Japanese content industry, which has received increasing attention as a possible growth motor for the Japanese economy since the early 2000s. Exports of media contents and other pop cultural goods, such as Pokémon merchandise and toys, were deemed economic success stories in Japan during the recession-stricken 1990s. A breakdown of the anime industry by segment shows that merchandising is by far the largest domestic segment of the anime industry. The overseas revenue represents the combined revenue of various segments of the industry, such as television broadcasting, movies, and video streaming. Anime streaming in particular has come into focus in recent years, as the competition between major streaming services, such as Netflix, Amazon Prime Video, and Disney+, has increased the demand for animated streaming content. Impact of demographic changes One reason for the increasing outward orientation of Japanese anime producers and related companies can be found in the limited growth potential of the domestic market. Japan’s low birthrate means that fewer and fewer children are born as time progresses, which poses a challenge particularly for those businesses which follow a media mix strategy that combines broadcasting TV programs for children with selling toys and other merchandise. Despite this development, the anime industry has greatly expanded its output since the 1990s, which has entailed an increasing focus on content aimed at adult audiences. A comparison of production minutes shows that the anime industry today produces more content aimed at adults than content aimed at children and families, which was not the case in earlier decades. In general, it has become more common for adults to enjoy animation, which is in part a result of the increasing sophistication of the medium.

Funding in artificial intelligence (AI) startups maintained a stable growth in the years before the coronavirus (COVID-19) pandemic, increasing from 18 billion U.S. dollars in 2017 to 26 billion U.S. dollars in 2020. Investments into AI-driven startups increased substantially as of 2021, as generative AI emerged and at the outset of the COVID-19 pandemic, when it became clear that working from home and cyber solutions were a permanent part of the workplace. Consequently, investments grew from a little over 30 billion U.S. dollars in 2020 to more than 65 billion U.S. dollars in 2021. However, investments in AI startups had been slightly declining in 2022 until the record level of funding for OpenAI and other generative AI investments at the tail end of the year.

Artificial Intelligence investments during COVID-19 During the COVID-19 pandemic, the level of investment rose in nearly all organizations across the globe. The increase was most staggering in the healthcare and pharmaceutical industry where nearly 44 percent of companies reported an increase in their use of artificial intelligence. The automotive industry, being one of the more advanced automation industries in the world, also increased its investment by over 40 percent. The automotive industry automation market totaled two billion U.S. dollars in revenue . Artificial Intelligence in business and recession The increased use of AI in the United States is enabling companies to reduce their labor demands and hiring cycles, thus becoming more efficient. Nearly a third of companies have either implemented or begun to implement AI driven solutions within their organization. In the context of energy driven recession faced by Europe - that is impacting the entire world - AI comes to the rescue. Most mobile companies reported an energy saving of 10 to 15 percent. Such small steps are vital in maintaining a robust technological economy in recession times.

In 2023, Singapore’s construction sector contributed around 22.37 billion Singapore dollars to the country’s gross domestic product (GDP). This was a noticeable increase after the construction sector had been especially affected by the COVID-19 pandemic. Robust private and public sector demand in 2019 The construction sector in Singapore experienced three consecutive years of negative growth until 2019. This increase was fueled in part by the unexpected higher demand from the private sector, especially by the construction of new petrochemical facilities by global giants Linde and ExxonMobil. Public construction demand, meanwhile, has been growing steadily since 2015, supported by major civil engineering projects such as the expansion of the MRT lines and housing development. In that year, the value of contracts awarded for both private and public sector construction amounted to around 33 billion Singapore dollars. Impact of COVID-19 on the construction sector However, the COVID-19 pandemic has already negatively impacted the construction industry. Singapore experienced its worst recession since independence, and in Q1 2020, the construction sector contracted by four percent. Social distancing measures and the stopping of non-essential work meant that many construction projects were put on hold. Furthermore, Singapore’s construction sector is facing a two-fold labor crisis. This industry is heavily reliant on migrant workers from foreign countries. The global restrictions in travel meant that hardly any new labor was available. Adding to this challenge, the migrant workers in Singapore had been badly hit by COVID-19, making up the largest share of COVID-19 infections in the country.

In a survey conducted on the impact of COVID-19 in India in March 2022, a majority of participants reported a net increase in spending across categories like groceries with a share of 45 percent expecting to buy lesser quantity. However, a drop in spending was observed for categories related to leisure, travel, and dining in restaurants.

Spending models The COVID-19 pandemic has had a grave impact on the Indian economy which come with its own array of setbacks indicating a drastic change in the pattern of market dynamics. It was observed that during the pandemic, people’s spending models changed from one of indulging to hoarding. People spent less of their income on items that were perceived as non-essential such as clothing, make up, jewelry, toys and games and electronics. By inference, more money was spent on purchase of essential goods, particularly groceries and other food items. The second wave and the economy The nation’s battle with the coronavirus continues bringing in the second wave. This has prompted a reimposition of strict measures including partial lockdowns and curfews in certain states to keep the contagion under control. Experts have postulated a more virulent mutation of the virus could make the second wave even deadlier. While the economy has not yet fully recovered from the first wave of the pandemic following the lockdown imposed in March 2020, India’s recovery signals a slowdown. In the case of further lockdowns, it could lead to an economic recession. Some of the worst hit sectors during the pandemic have been tourism along with automotive and power.

The statistic shows the growth rate of the real gross domestic product (GDP) in Japan from 2020 to 2024, with projections up until 2030. In 2023, Japan's GDP increased by 1.49 percent compared to the previous year. For comparison, the GDP growth rate of China had reached about 8.45 percent that same year.Gross domestic product growth rate in JapanGDP serves as one of the most heavily relied upon indicators to gauge the state and health of a country’s economy. GDP is the total market value of all final goods and services that have been produced within a nation’s borders in a given period of time, usually a year. GDP figures allow a more fundamental understanding of a country’s economy. Year-on-year GDP growth acts as a helpful and clear sign of the direction in which a country is moving in economic terms. Real GDP is especially useful and insightful as it takes price changes (inflation and deflation) into account.The gross domestic product growth rate in Japan has been shaky since the recession of 2008 struck the world economy like a bolt out of the blue and Japan is still yet to gain a solid foothold. Despite its ongoing financial predicament however, Japan remains one of the world’s most highly developed economies. The economy of Japan is the third largest worldwide by nominal GDP and the nation has a very active manufacturing sector. It is active in the auto manufacturing sector, the third largest in the world after the United States and China, and has an electronics industry that is counted among the worlds most innovative. Japan can boast many titles, but perhaps the most significant to its future stability is that which relates to its astronomical national debts, currently running at over 200 percent of GDP, roughly 10.5 trillion US dollars.

As of January 2025, the largest all-time bankruptcy in the United States remained Lehman Brothers. The New York-based investment bank had assets worth 691 billion U.S. dollars when it filed for bankruptcy on September 15, 2008. This event was one of the major points in the timeline of the Great Recession, as it was the first time a bank of its size had failed and had a domino effect on the global banking sector, as well as wiping almost five percent of the S&P 500 in one day. Bank failures in the U.S. In March 2023, for the first time since 2021, two banks collapsed in the United States. Both bank failures made the list of largest bankruptcies in terms of total assets lost: The failure of Silicon Valley Bank amounted to roughly 209 billion U.S. dollars worth of assets lost, while Signature Bank had approximately 110.4 billion U.S. dollars when it collapsed. These failures mark the second- and the third-largest bank failures in the U.S. since 2001. Unprofitable banks in the U.S. The collapse of Silicon Valley Bank and Signature Bank painted an alarming picture of the U.S. banking industry. In reality, however, the state of the industry was much better in 2022 than in earlier periods of economic downturns. The share of unprofitable banks, for instance, was 3.4 percent in 2022, which was an increase compared to 2021, but remained well below the share of unprofitable banks in 2020, let alone during the global financial crisis in 2008. The share of unprofitable banks in the U.S. peaked in 2009, when almost 30 percent of all FDIC-insured commercial banks and savings institutions were unprofitable.

The statistic reflects the seasonally adjusted unemployment rate in member states of the European Union in November 2024. The seasonally adjusted unemployment rate in Spain in November 2024 was 11.2 percent.The unemployment rate represents the share of the unemployed in all potential employees available to the job market. Unemployment rates in the EU The unemployment rate is an important measure of a country or region’s economic health, and despite unemployment levels in the European Union falling slightly from a peak in early 2013 , they remain high, especially in comparison to what the rates were before the worldwide recession started in 2008. This confirms the continuing stagnation in European markets, which hits young job seekers particularly hard as they struggle to compete against older, more experienced workers for a job, suffering under jobless rates twice as high as general unemployment. Some companies, such as Microsoft and Fujitsu, have created thousands of jobs in some of the countries which have particularly dire unemployment rates, creating a beacon of hope. However, some industries such as information technology, face the conundrum of a deficit of qualified workers in the local unemployed work force, and have to hire workers from abroad instead of helping decrease the local unemployment rates. This skills mismatch has no quick solution, as workers require time for retraining to fill the openings in the growing science-, technology-, or engineering-based jobs, and too few students choose degrees that would help them obtain these positions. Worldwide unemployment also remains high, with the rates being worst in the Middle East and North Africa. Estimates by the International Labour Organization predict that the problem will stabilize in coming years, but not improve until at least 2017.

The value of overall construction output in the United States grew by over 131 billion U.S. dollars in 2023. That refers to all construction activities, including the construction of buildings and infrastructure, as well as other specialized activities, such as roofing, HVAC, and plumbing installation, among others.

The construction sector during recessionsThe strength of the construction industry generally tends to parallel that of the nation’s economy. After the Great Recession in 2008, there was a noticeable decrease in the value of new construction put in place in the United States, as it can be observed in this statistic. Nevertheless, both public and private construction spending in the U.S. kept increasing in 2020 despite the effects of the start of the COVID-19 pandemic in the economy.Construction worker shortageTo sustain growth, there are several challenges that the construction industry in the U.S. has faced in the past years. The shortage if skilled labor in the construction industry has been one of the most notable barriers to growth in the industry in the past couple of years. The industry is facing that challenge at a time in which there is also a high demand for new buildings, as there was a significant housing shortage in metropolitan areas all throughout the United States.