Figures for July are out and look promising, particularly as the world is still largely in the middle of the coronavirus pandemic. Patrick Brusnahan asks experts if the world can start becoming optimistic

Daniele Antonucci

Chief economist & macro strategist at Quintet Private Bank

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The sequential pace of recovery is losing momentum. Even though GDP has risen for the third month in a row, it still has to make up for almost half of the lost output following the lockdown. The pick-up in Covid-19 cases and the return of containment measures to mitigate the virus outbreak mean that the easier part of the economic rebound is already behind us.

With some of the emergency measures to firms and workers now being scaled back, the risk of a relapse in growth has risen further. With monetary stimulus already very ample, additional fiscal stimulus is likely to be needed to support overall activity, with a focus on the sectors that have been particularly impaired by the public health restrictions.

Dean Turner

Economist at UBS Global Wealth Management

The sequential pace of recovery is losing momentum. Even though GDP has risen for the third month in a row, it still has to make up for almost half of the lost output following the lockdown. The pick-up in Covid-19 cases and the return of containment measures to mitigate the virus outbreak mean that the easier part of the economic rebound is already behind us.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

With some of the emergency measures to firms and workers now being scaled back, the risk of a relapse in growth has risen further. With monetary stimulus already very ample, additional fiscal stimulus is likely to be needed to support overall activity, with a focus on the sectors that have been particularly impaired by the public health restrictions.

Rupert Thompson

Chief Investment Officer at Kingswood

The UK economy rebounded further in July with GDP rising 6.6% m/m. Activity has now recovered a little over half of the massive 26% fall seen between February and April but this still leaves the economy close to 12% smaller than it was prior to Covid. The pace of the recovery moderated in July and looks certain to slow significantly more over coming months as the initial boost from pent-up demand fades and the furlough scheme comes to an end. As the Chancellor has been keen to point out, the economy is far from out of the woods yet.