Commerzbank Research

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Outlook 2021/22: Emergency is the new normal

Outlook 2021/22: After a hard corona winter, the economy will recover strongly from the spring onwards thanks to the progress made with vaccines and will return to its pre-crisis level by the end of next year at the latest. But anyone who believes that this will mark the end of the extraordinary monetary and economic policies in the euro zone is mistaken. Policy makers will push down on the accelerator also in 2022. The markets remain disconnected from the fundamentals.

Forecast review: Corona changed the world:The outbreak of the corona pandemic has consigned the growth forecasts published a year ago to the waste paper basket. Financial markets have also been significantly affected. Nevertheless, as every year, we take a look back and observe that some of our forecasts were not so bad under the circumstances.

Corona Update – 2 December

Chart of the week: World trade soaring

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Research Team