The Conference Board Economy Watch European View | The Conference Board
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The Conference Board Economy Watch European View


July 2020 | Economy Watch Reports

The output contraction in March and April has not translated into major increases in unemployment yet. However, unemployment will eventually increase as government supported unemployment benefits schemes expire. At the same time, the latest data on consumer spending surprised on the upside. Despite a likely strong growth rebound in 2021, it will take more time for GDP to reach pre-COVID-19 crisis levels.


AUTHOR

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Ilaria Maselli

Senior Economist
The Conference Board


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