The Daily Times Newspaper

Moodys: The Economic Recovery From the Corona Crisis is Getting Long and Bumpy

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The economic recovery from the corona crisis is getting long and bumpy, according to the Moodys.

 

Credit rating agency Moodys warns of this, which is further adjusting its expectations for an economic downturn this year in several European countries.

The recovery is set to start slowly in the second half of this year, Moody expects.

How fast that will go depends on the pace at which governments are easing measures against the coronavirus and whether they can limit the number of corona cases, according to the credit rating agency.

It is also unclear how long demand from companies and consumers will remain weak after the initial shock of the pandemic.

Moody now expects the economies of Germany, France and Italy to shrink to 10.1 percent this year.

In April, it was expected that the fall in the gross domestic product (GDP) in these economies would remain limited to 8.2 percent.

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