Growth Will Remain Well Above Potential

The expected economic recovery came unexpectedly fast. Although several sectors are still in crisis, the. Economy as a whole already exceeded the pre-crisis level in the second quarter of the year. The recovery. Is also strong in our partner countries. Although the risks of recurrence of the virus remain, especially in, where vaccination coverage is extremely low, economies have adapted and a new fall in gross domestic. Product is not expected at the end of the year. The pace of recovery calls for a revision of forecast. Upwards of up to 4% this year. Next year we will grow even faster. But in 2023 the pace will slow down a bit.

Crisis in Manufacturing and Also in Construction

Coverage in, especially in the countries, is wide, suggesting that outbreaks in the autumn and winter will. Not have a significant impact on the France Phone Number economy. Separately, possibly locally, growth can be hampered not. Only by a lack of raw materials or components, but also by insufficient human resources. The labor market. In both the and countries is recovering unexpectedly. Although pre-crisis levels, such as unemployment, have not yet been reached, business concerns about labor shortages are rising sharply. Among the sectors, this issue is particularly relevant in the wake.

Affecting Not Only Exports but Global Trade

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World economy is growing, but not without obstacles during this summer, the of all and economies has. Already risen above the end-2019 reading. Although the euro area is still lagging behind pre-crisis levels. Positive surprises in almost all countries have led to a more optimistic outlook for this year. However, faster growth in both and the world is being and will be hamper by the bottleneck of the supply side. The lack of various components, long delivery times and high prices. Disruptions in the supply chain are exacerbated by virus outbreaks in developing. Countries such as china, where closed ports and factories in province.