Global Macro Service > Research Briefings > Global

Coronavirus Watch: EMs could be 2021’s big surprise

We expect the global economy to exit its recent soft patch in Q2 as falling Covid cases and ongoing vaccine rollouts allow authorities to ease restrictions. Economies with especially tight curbs on activity may gain the most, so advanced economies – particularly in Europe – could be the best performers by the middle of the year. But emerging markets may supply the biggest surprise.

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