The Great Influenza Pandemic which occurred between 1918 and 1920 caused the deaths of about 40 million people all around the world. The mortality was not homogeneous throughout the world. India suffered a mortality of 5.22% while the United Kingdom had a mortality rate of 0.46%.

A pandemic of this magnitude had significant economic consequences. According to this article, the real world per capita GDP declined by 6 percent and consumption by 8 percent. In the United States of America, the decline was lower: a 1.5 percent decline in GDP and a 2.1 percent drop in consumption. Stocks suffered a decline, in the US the decline was measured at 7%.

It is to note, though, that the declines mentioned recovered quickly in the yers following the pandemic.

This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.