In fits and starts, the wheels of the global economy are beginning to turn again. The year-and-a-half-long winter of discontent across the globe is fading away as Covid-19 vaccination programs make inroads and summer slows down infections in Europe.
But will the grand reopening also be great? Patchy, more like it...shaped by vaccine security, regional politics, the use of excess savings and supply-side bottlenecks, among other factors.
So what can we expect from the second half of 2021? In its latest economic outlook, Allianz Research identifies some likely trends this year.