Europe Macroeconomic Update: Recovering from COVID-19, Amid Vaccination and Lockdowns
After a weak start to the year, DBRS Morningstar expects the economic recovery in the euro area to resume and speed-up later in 2021, as the vaccine rollout accelerates, likely reducing hospital admissions and facilitating economic re-opening, and the fiscal and monetary support remains in place. Both domestic and external demand should drive the recovery, with pent-up demand in particular providing a boost thanks to savings accumulation. Nevertheless, risks of further delays or setbacks in the containment of the pandemic remain elevated.
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