Perspectivas macro y de renta fija

Patrick Zweifel (Pictet Asset Management): “Esta crisis impacta desproporcionadamente al sector de servicios”

Fecha:

Patrick Zweil
Photo: Patrick Zweifel, Chief Economist at Pictet Asset Management. Photo: Patrick Zweifel, Chief Economist at Pictet Asset Management

Autor: Meritxell Sedo

  1. While the sanitary crisis is not over, some countries have done a better job controlling the spread of the coronavirus among their population
  2. The collapse in the supply side of the industrial activity has been very similar to the one that happened during the Global Financial Crisis. What is new this time is the length of the crisis
  3. While it took about a year, from 2008 to 2009, for the World manufacturing surveys to hit the 50 threshold, this time around it has only taken about three months for the industrial activity to recover
  4. This time the fiscal response has been stronger than in any other previous crisis. The median response for Development Markets has been about 4.5% of their GDP, this compares to 2.5% of GDP for Emerging Markets for a total of 5% in global GDP