Allianz Global Wealth Report 2026

Automotive in Europe: -30% in 2020, in spite of active googling for new cars

In Europe, both new car registrations and the business climate slumped in April. High frequency indicators based on Google trends now point to a renewed interest in cars but with the exception of Germany, that won’t be enough to drive a strong revival in car purchases before Q3.

Lower for longer: Covid-19 to weigh on interest rates

In the wake of Covid-19, developed markets’ long-term yields have fallen significantly. However, market participants seem uncertain how to integrate the ensuing massive fiscal and monetary easing in their medium-term rates expectations.

UK: Brexit uncertainty could jeopardize the recovery in H2

UK Q1 GDP fell by -2% q/q, in line with expectations. This release confirms that each week of lockdown cuts output by around -6%. Even before implementing a Covid-19 lockdown on 23 March, the UK economy was already on a weak footing, posting no growth in Q4 2019. And at the start of the year, advanced indicators pointed to below normal investment activities and trade as Brexit uncertainty was still looming.