We lower our GDP forecast for 2020 to -3.5%

Erste Group
By March 27, 2020 06:37

We lower our GDP forecast for 2020 to -3.5%

Corona-Virus weighs on Eurozone economy

All countries in the Eurozone have gradually begun to impose significant restrictions on public life from mid-March onwards in order to stem the spread of the coronavirus. We are therefore lowering our GDP forecast for the Eurozone for 2020 from the previous -0.5% to -3.5%, thereafter a recovery of +3.1% should take place in 2021. Although the economic damage will be considerable, it should also be taken into account that all countries are providing substantial sums of money (around 10% of GDP) to minimize the damage. Since the situation remains difficult to assess, the uncertainty for our forecast is high. 

Erste Group
By March 27, 2020 06:37

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