• Resumption in economic activity with easing of containment measures is hindered by slowdown in demand; inflation and global trade volumes nosedive
  
• Central banks in Europe and China enhanced their monetary stimulus and announced measures to ease liquidity
  
• Energy index rises on back of rise in crude oil prices; other commodity prices show little movement
  

Governments worldwide are trying to breathe oxygen into their economies by slowly unfastening the lockdown ligature. The partial resumption in economic activity amid the Covid-19 pandemic, however, is contending with subdued demand, as evidenced in inflation and trade data of major advanced economies.

With cases peaking in major affected economies in North America and Europe, the countries are easing restrictions even as governments and central banks continue to pump in funds. The European Central Bank (ECB) has expanded the scope of its monetary stimulus, while the Chinese government has announced a new fiscal package.

However, recovery to full-fledged economic activity is expected to be slow given the uncertain trajectory of the virus and the possibility of a second wave of infections. It remains to be seen as to how well the global economy responds to the myriad stimulus measures.