The growth situation remains solid for now: that is the key message from both our Nowcasters and Newscasters across a majority of regions. The US and Chinese Growth Nowcasters have declined recently while remaining, respectively, around the zero line (growth around potential) and above it (growth above potential). The European lockdowns will weigh on the zone’s economies as indicated by the recent decline of our Eurozone Growth Newscaster. However, for now, the consequences of these lockdowns look much softer than those of the first. With vaccines gaining traction, the macro situation is likely to be less and less at risk compared to before, as economic agents will increasingly see the situation as temporary, which is essential for continued improvement in consumption and investment. Although the drivers of growth have diverged over the last few months, the outlook remains solid.
Source: Bloomberg, Unigestion. Data as at 16 November 2020.
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