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Later the epidemic will end, and the European economy will recover more slowly

Later the epidemic will end, and the European economy will recover more slowly

Capital Economics, one of London’s leading financial and economic analysts, said in a revised forecast released on Thursday that it expects to roll back the restrictions that caused the most economic damage in the euro zone in June or July. According to the House of Representatives, a rapid recovery in the currency union economy will follow, but only from the third quarter, despite the fact that most forecasters, and even the Central Bank of the Eurozone (ECB), expect activity to pick up in the near future.

Analysts at Capital Economics in London said they now expect average annual GDP growth of just 3 percent in the eurozone this year, but next year it is expected to grow faster than expected by 4.5 percent in the currency union economy. Previous projections for the House of Representatives for 2021 and 2022 included eurozone growth of 4 percent.

According to a study by Capital Economics, Eurozone economies that are already operating at pre-pandemic levels are expected to suffer less from delays in recovery.

The house predicts that in Germany, the value of GDP may return to pre-coronavirus levels by the first quarter of 2022, but in France and Spain, it does not expect the same until 2023. Analysts at Capital Economics in London said they expect performance to reach The economy of the Eurozone as a whole returns to pre-epidemic levels in the third quarter of 2022. The company expects UK GDP to be at pre-Coronavirus levels again in the second quarter of 2022, with US GDP already in place in The second quarter of this year.

Other Greater London homes are also more optimistic about the outlook for the eurozone economy and global growth. The international credit rating agency Fitch said in a quarterly global assessment that it has improved its outlook for global economic growth this year from 5.3 percent in its previous outlook to 6.1 percent.

According to the company, increasingly vigorous vaccination campaigns, strongly mounting financial incentives, and the adaptation of large economies to measures to curb the epidemic have played a critical role in the revision of the forecast scenario.

Analysts at Fitch Ratings in London said that they revised their forecast for the US economy this year from 4.5 per cent to 6.5 per cent, and their forecast for China’s GDP growth rate from 8 per cent to 8.4 per cent, and the Eurozone GDP remained unchanged. 4.7 percent. Growth forecast for 2021 as a whole. The credit rating agency expects a 6% growth rate this year in the global emerging region, excluding China, instead of the 5% GDP growth it has projected so far.

Cover photo: Getty Images

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