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The corona pandemic leaves deep scars on the economy and, as expected, it was a dramatic drop in GDP in the second quarter of the year. But KI sees clear signs of a strong rebound in the third quarter, according to a new forecast.
However, the recession is still there and the recovery is entering a quieter phase, although KI sees a positive development in the fact that household consumption and exports are largely recovering from the decline of the beginning of this year.
Unemployment also continues to rise and is expected to reach nearly 10 percent during the fourth quarter. Among other things, short-term layoffs mean that employers don’t need to hire and the turnaround in the job market is expected to be delayed, according to KI.
“Economic policy will continue to support the recovery next year, but it will be 2023 before the recession ends.”KI writes in the forecast.
