Economics
Euro-Area Economic Cataclysm Eases Up on Less Stringent Lockdown
- 2020 growth may slump by 9%, full recovery could take ‘years’
- Demand is likely to stay extremely weak for a prolonged period
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The euro-area economy started to claw its way out of its deepest downturn ever as the relaxing of coronavirus lockdowns allows thousands of businesses to reopen.
The big question is how long it stumbles along at the bottom before a meaningful recovery starts to take shape. While a report from IHS Markit on Thursday offered some hope, it also suggested that improvement will be slow.