Macro: COVID-19 Economic update euro area Part 3: Euro area recession - sharper and deeper than 2008/09
Efforts to contain the corona pandemic are accompanied by severe economic restrictions in many euro countries. The result will be a sharp and deep recession in the monetary union. At the same time, initial estimates of the economic output loss that have already occurred indicate dramatic setbacks by historical standards. However, we cannot and do not want to extrapolate from these results when estimating future economic activity. Moreover, we assume that it will be possible to contain the COVID-19 pandemic in Europe to a certain extent in the coming weeks. This should lay the ground to revive economic activity in a watchful and responsible manner possibly also with temporary setbacks towards some normalisation in the course of Q2 and especially Q3.This Research was produced and first published by Raiffeisen Bank International AG which is supervised by the Austrian Financial Market Authority and the National Bank of Austria.
The Institutional Equity Research team of Raiffeisen Bank International AG covers 85 stocks from Austria, Central & Eastern Europe with sell-side research and thus levers our local broker status with excellent company relationships. For corporates in Austria, CEE and Western Europe, we offer co-sponsored research, which includes research coverage and marketing activities to investors. Additionally, through our Spotlight Research product we also shed light on leading European small and micro-caps, seeking greater visibility with investors.
The Institutional Equity Research team consists of roughly 15 analysts, both in Vienna and the CEE countries. Our analysts provide long-standing sector expertise in tandem with profound local market know how and a sectoral approach across the entire region.
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