Learning to live with the pandemic : economic outlook

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      <subfield code="a">Learning to live with the pandemic</subfield>
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      <subfield code="a">The title of our previous Economic Outlook, 'Getting to Grips with the Pandemic', arguably summarised the optimistic tone that prevailed at the time. As vaccinations were rolled out, even in the (major) emerging economies, it was thought the pandemic would develop into an endemic state, wherein pockets of local outbreaks are controlled. That would provide further impetus to the global economy, with the impact of Covid-19 already waning. As a consequence, the economic recovery could further gain traction, perhaps a bit bumpily, but powerful anyway. That was August 2021. Now, not even six months on, matters look rather different, perhaps even a lot different. There are broadly two factors at play that determine the current, undoubtedly less favourable, state of affairs. These concern the nature of the pandemic and its impact on the global economy. We are not out of the Woods yet.</subfield>
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