World economies are still quarters away from returning to pre-coronavirus levels, warns Amundi
Barriers stating “CLOSED” are arranged outside Tropicana Casino during the coronavirus pandemic on May 7, 2020 in Atlantic City, New Jersey.
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Economies around the world may still be quarters away from recovering to their pre-pandemic levels, though the worst of the economic shock appears to be over, according to analysts at Amundi Asset Management.
“In our view, economic performance will progress along a gradual upward sloping catch-up process. In the central scenario, this translates into pre-Covid-19 levels not being reached before several quarters from now, on average,” the analysts wrote in a note.
“The bottom has passed, but economies do not seem to be climbing out of it quickly enough to ensure a fast healing,” they said.
Amundi downgraded its economic forecast for 2020 and now expects global GDP to contract by between 3.5% and 4.7% as compared with …continued .
[Source: CNBC News]