The COVID-19 recession, also known as the Great Lockdown, was a global economic recession caused by the COVID-19 pandemic. The recession began in most countries in February 2020. After a year of global economic slowdown that saw stagnation of economic growth and consumer activity, the COVID-19 lockdowns and other precautions taken in early 2020 drove the global economy into crisis. Within seven months, every advanced economy had fallen to recession.

During the early stages of the COVID-19 pandemic, a number of non-pharmaceutical interventions, particularly lockdowns, were implemented in numerous countries and territories around the world. These restrictions were established with the intention to reduce the spread of SARS-CoV-2, the virus that causes COVID-19. By April 2020, about half of the world's population was under some form of lockdown, with more than 3.9 billion people in more than 90 countries or territories having been asked or ordered to stay at home by their governments. Although similar disease control measures have been used for hundreds of years, the scale of those implemented in the 2020s is thought to be unprecedented.