The pronounced skewing of the sectoral structure of demand after the coronavirus crisis will be a barrier to the economic recovery

The coronavirus crisis is likely to lead to a pronounced skewing of the sectoral structure of demand and production as a result of five key developments: The fall in demand for durable goods in favour of other goods and services; The fall in tourism; The permanent rise in the weight of online retail; The permanent rise in the weight of home working; Increased concern for the climate and the environment. After the health crisis, economies will therefore face the simultaneous presence of: Sectors of strong demand and production where there are bottlenecks (skilled labour shortages); Sectors of depressed demand and production. This will be a barrier to the economic recovery: In the short term, due to difficulties meeting demand in some sectors; In the medium term, due to the difficulty of transferring factors of production (capital, labour) from one sector to another.