The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Tuesday related to the national and global response, the work place and the spread of the virus.
— With countries starting to loosen lockdown restrictions, many nations are beginning to show spending improvements, according to Visa. Total U.S. payments volume dropped 5% in May from a year earlier. That’s a 13 percentage point improvement from April. Debit grew 12% and credit declined 21% year-over-year in the period. That’s a 17 percentage point and 9 percentage point improvement over April, respectively.
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