Coronavirus has produced a recession, says UCLA economist

LA’s Grand Central Market with empty seating. Tourist and locals are avoiding the market due to coronavirus fears. Photo by Ted Soqui for KCRW.

To help curb the spread of COVID-19, Los Angeles is closing bars, nightclubs, theaters, music venues, gyms, and retail stores. The film and TV industry is frozen. Trade and tourism are down. What does this mean economically?