2021 Midyear Outlook: Navigating through the recovery
Listen in as we discuss our outlook on the US recovery and the Federal Reserve’s new framework, including its impact on inflation, interest rates and growth.
European Union economic data surprises continue to outpace those in the United States.
A surprise beat in the German ZEW sentiment expectations gauge continued to increase the gap between EU and U.S. economic surprises. While current European conditions remain challenged with COVID-19-induced lockdowns, we expect the outlook to markedly improve as the vaccination rollout continues. The European economy is more cyclical in nature than the U.S., which should serve as a tailwind as developed economies reopen.
Source: Citibank, Bloomberg, Ivy Investments. The Citi Economic Surprise Indices measure data surprises relative to market expectations. A positive reading means that the data releases have been stronger than expected. Dates shown are February 17, 2020 through February 16, 2021. This chart is being provided as a general source of information for education purposes only, and is not intended as a recommendation to purchase, sell or hold any specific security or to engage in any investment strategy.