I read an estimate for the Danish economy that a full lockdown costs 4-5% of annual GDP pr month. Meaning that if it goes on for a full year the output of the e

I read an estimate for the Danish economy that a full lockdown costs 4-5% of annual GDP pr month. Meaning that if it goes on for a full year the output of the economy would be half. Even in a full lock down some parts of the economy is still running at full "potential output", some maybe more: Hospitals, police, some business, utilities like electricity or water, basic supermarkets etc. But, yes, 3% is probably too low.