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The COVID-19 outbreak has severely restricted economic activity around the world. From New York to New Delhi, shops, restaurants and airports are empty. Factories and offices are dark. The human and economic toll of the pandemic continues to rise, and citizens, businesses and governments are learning to respond to an unprecedented global phenomenon.

To get a clearer picture of how companies and governments are responding, KPMG canvassed leaders of 29 member firms to provide an assessment of the impact on business, responses by clients, and government mitigation measures in their countries.

In this paper, we summarize the survey findings and highlight key insights that emerge, including:

  • There is great uncertainty about the duration of the lockdown period around the world; survey respondents expect some containment measures to remain in place post-lockdown to avoid renewed outbreaks.
  • Most governments are clearly prioritizing health responses at this point and leaving comprehensive economic actions to later.
  • Businesses expect COVID-19 containment measures to remain in place through Q2.
  • Respondents say that the banking sectors in their countries remain stable.
  • Countries that are able to exit the COVID-19 situation earlier will gain advantage (i.e., China could fare better than the U.S. and some European countries, where infections are still rising).

For a more in-depth look at these insights, as well as an overview of what companies can do now to weather the downturn and flourish when recovery comes, download the full COVID-19 pulse check report.