Posthaste: ‘Supercharged’ Canadian housing market roars back to life, after lockdown halted 70,000 transactions
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China’s recovery appears to be leaving the rest of the world in the dust, this chart by Deutsche Bank Research shows. The bank’s updated forecast sees the U.S. economy back at pre-COVID levels by the middle of 2022 and the eurozone’s at the start of 2023. The U.K. will take even longer, until the second half of 2024, because of the extra drag of Brexit. If 100 marks the level of real activity at the start of 2020, China’s economy was already there by the end of the second quarter, pulling off a V-shaped recovery. Deutsche analysts forecast the gap between China and the rest of the world will just get bigger. As the chart shows, by the end of 2025, the bank sees China at 137, the UK at 100, the eurozone at 103, and the U.S. at 108. “Longer-term, this China vs RoW growth divergence could easily create more political tensions as relationships continue to be under stress between China and the Western World,” said the note.
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