Report
Europe – Spectacular recovery albeit still incomplete
Europe has suffered from a longer and stricter lockdown than any other region. At the worst time in April, economic activity had fallen 25% below pre-virus levels. After four months of a rebound, it is now only about 5% below this level. This technical catch-up partly reflects deferred spending and cannot be extended endlessly. The recovery would not have been possible if first the ECB and then the EU (under the decisive impetus of Germany and France) had not reacted in a way tha...
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Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Bruno Cavalier
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