How much has the global lockdown cost businesses? According to Fitch Ratings, the damage is $5 trillion. In a report published on Wednesday, titled “The Road Back”, the agency estimates that’s how much revenue will shrink this year alone at the companies whose debt it grades.
By 2022, sales will be $8.5 trillion lower than Fitch forecast at the end of last year.
These Fitch-rated companies had over $26 trillion of revenue to start with. The true damage is likely to be much bigger.