The second wave of the pandemic is holding back the recovery of the European economy. This is what emerges from Istat’s new EURO-ZONE ECONOMIC OUTLOOK report. "After the marked increase in the third quarter - the press release accompanying the document reads - economic activity in the euro area is expected to decline in the fourth quarter, conditioned by the health emergency and the new measures to contain the spread of Covid. Annual inflation will remain at very low levels before accelerating progressively from the first quarter of 2021".
According to the report, the picture is characterized by a high uncertainty, with both upside and downside risks, linked to the evolution of the pandemic, the timing of the introduction of vaccines and the expected impact of the funds provided by the Next Generation plan.