Discussion with Dagens Industri TV

Philip Lane states that the European economy is at an inflection point. The first months of this year were dominated by measures to contain the virus, leading to restrictions on the services sector. However, manufacturing has been resilient due to the recovery of the world economy and trade. With progress in vaccinations, restrictions on the services sector are expected to be lifted, leading to a rebound and recovery throughout the rest of the year. While there has been a slight contraction in the first quarter, overall activity in 2021 is projected to be about 4% above 2020 values, although full recovery has not yet been achieved.

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