Global Macro Service > Research Briefings > Eurozone

Recovery of business investment hangs by a thread

We expect the sharp drop in demand, elevated uncertainty, and fragile financial conditions to trigger the largest fall in business investment since the Great Financial Crisis (GFC). The current mechanical rebound suggests the contraction will be short-lived, but a protracted recovery which we expect will prevent business investment from reaching pre-pandemic levels before Q4 2021.

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