Global | Post-vacation outlook

Summary

Looking at what lays ahead for us in the last few months of the year in the global economy, unfortunately the situation has not yet normalized.

Key points

• Key points:
• The number of COVID-19 cases has reduced in August in many European countries and in large parts of Latin America, but the situation has clearly worsened in the United States.
• Apart from the virus, another important factor will be the speed of economic recovery. Second-quarter growth was high across much of the world, but the third-quarter figures are much more uneven.
• Another issue that has been on the radar since the start of the year is inflation, which in principle has been led by temporary drivers.
• In addition, the role of the Fed and the ECB in adequately managing and communicating the withdrawal of their monetary stimulus packages will continue to grab the attention, together with political events such as the German elections and the Climate summit in Glasgow in November.

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