Vanguard economic and market update

20 October 2020 | Markets and Economy

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 Vanguard economic and market update

Vanguard's key points:

  • Recovery levelling off in Europe, with Germany and Italy expected to fare better than Spain and France.
  • Targeted virus-suppression efforts and Brexit uncertainties weighing also on UK economic recovery.
  • In the US, we foresee annualised growth of around 22% in the third-quarter and around 7% in the fourth-quarter. It could be another two years at least, though, before US economy recovers to its pre-Covid trajectory.
  • China, in contrast, on course to have fully recovered from the Covid-19 pandemic by year’s end.

Note: These points represent the house view of the Investment Strategy Group’s (ISG’s) global economics team and other experts as of 14 October 2020.

 

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© 2020 Vanguard Investments Switzerland GmbH. All rights reserved.

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