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European Office Outlook

European Commercial - February 2021

Report

Autoren: Mike Barnes , Jeremy Bates , Matthew Fitzgerald

Reihe: Savills Spotlight

Anbieter: Savills

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  • Erscheinungsdatum : 22.02.2021
  • Seiten : 6 Seiten
  • Datei-Typ : PDF-Datei
  • Größe : 1,19 MB
  • Sprache(n) : Englisch

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Inhalt

Eurozone GDP growth to rebound 4.6% in 2021

Economic overview

As Europe makes its way through the first quarter of 2021, much focus remains on the speed of the vaccine rollout across the EU. However, supply chain challenges with distributing the vaccines have begun to stagger momentum. The European Commission's plan to inoculate 70% of all adults in the EU by the summer would involve the bloc increasing vaccination rate by a factor of five times in order to meet this target.

2021 will look to consolidate some of economic losses observed during 2020, with eurozone GDP growth anticipated to grow by 4.6% during 2021 (see chart, below). However, most economies will not fully recover their economic losses until end-2022, according to Focus Economics. It is likely that southern European economies most exposed to the tourism sector are expected to lag behind as weaker sentiment filters through the rest of the services sector, whilst CEE and Nordics countries are anticipated to witness among the most resilient economic recoveries.

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