Webinar : “From a massive shock to a differentiated economy”
Julien Marcilly, our chief economist, explains in this webinar what we can already foresee in terms of economic recovery for businesses:
1- First of all, the pace of recovery will be very different from one sector to another.
2- Despite the fact that we are seeing more and more good news at the macro level (the curves of infected people are reversing in many countries, trade is picking up again, etc.) But there is a lag between what is happening at the macro level and what is happening at a microeconomic level :
- In the event of a crisis, there is often a lag between the recovery at the macro level and the business recovery that comes later.
- This crisis is different from others in that governments and central banks have taken swift action. This may have shifted the impact of the crisis on companies, but it will indeed have an impact.
- There are regulatory changes around business failures, particularly in Europe, which explain that although we are seeing positive news, it does not mean that the economic situation will improve quickly.
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