Monthly Overview

16 September 2020

The world economy is on the way to a clear return to growth in Q3. Faster in the US and China than in Europe and in turn faster in Germany than in the rest of the Eurozone. Positive signals come from the continued recovery of indicators, economic surprises and earnings revisions stabilization, while the PMI indices in August showed that the lowest point of economic activity has been reached in Q2. A V-shaped recovery hypothesis for the economy in the second half of the year has been confirmed even if the global recovery remains uneven, uncertain and incomplete.

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