5. Februar 2021

Vaccines to trigger uneven recoveries from Covid

In Kürze

The Covid-19 pandemic keeps its tight grip on economic activity. After the arrival of vaccines in late 2020 had sparked increased optimism about the speed of the recovery, latest news has somewhat soured the mood.

Highlights:

Global activity is set to rebound this year amid progressing vaccination and a reopening of economies in spring/summer. Yet with the arrival of more aggressive Covid-19 mutations, bottlenecks in the vaccine supply and the health systems under stress, lockdowns especially in Europe may last longer than previously assumed, postponing the recovery.
Especially the euro area is hit hard. Amid additional and prolonged restrictions and a delayed achievement of herd immunity, we lower our base 2021 GDP growth projection from 5.3% to 4.0%.
In contrast, speedier vaccination and the prospects of another substantial fiscal stimulus make us raise our growth expectations for the US from 5.5% to 6.1%. We reaffirm our 7.8% growth forecast for China.
Monetary policy will remain accommodative, but barring a severe deterioration of the pandemic, we do not expect another material easing.

Download the full publication below

FOCAL POINT ǀ VACCINES TO TRIGGER UNEVEN RECOVERIES FROM COVID

5. Februar 2021

PDF

© Generali Investments, alle Rechte vorbehalten. Diese Webseite wird von Generali Investments zur Verfügung gestellt und gilt als Marketingkommunikation und Finanzwerbung in Bezug auf die Produkte und Dienstleistungen der folgenden Unternehmen der Generali Gruppe: Generali Investments Partners S.p.A. Società di gestione del risparmio, Generali Insurance Asset Management S.p.A. Società di gestione del risparmio, Generali Investments Luxembourg S.A. und Generali Investments Holding S.p.A. (im Folgenden zusammengefasst Generali Investments). Darüber hinaus kann die Webseite Marketingkommunikation und Finanzwerbung für Produkte und Dienstleistungen von Unternehmen enthalten, die Teil der von Generali Investments Partners S.p.A. Società di gestione del risparmio koordinierten Plattform sind, insbesondere von Generali Global Infrastructure, Sycomore Asset Management, Aperture Investors LLC, Plenisfer Investments SGR, Lumyna Investments und Generali Real Estate S.p.A. Società di Gestione del Risparmio.

Rechtliche Hinweise

Cookie-Richtlinie

Datenschutzrichtlinie

Geschäftsbedingungen

Urheberrechtsschutz

MiFid