The global economy is slowly starting up again after an abrupt standstill.
However, the pandemic results in varying levels of shutdowns across developed and emerging markets. The lockdown measures have caused a sharp deceleration of economic activities in the manufacturing and services sectors, countered with an unprecedented magnitude of monetary easing, financial stimulus and multilateral support.
Incoming data and real-time indicators for economic activity are showing cautious signs of a bottoming-out, along with the gradual easing of the containment measures. The pickup in economic momentum has so far been tepid compared with the pace at which the indicators plummeted in the previous months.
