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Positive development of the indicator with growing fear of a second wave

Dr. Thomas Gitzel, Chief Economist
Reading time: 2 Min
Slight recovery due to flight movements and restaurant visits

2020-08-11 VP Bank Krisenbarometer_EN

Last update: August 11, 2020

Compared to the previous week, a slight improvement was noted in our VP Bank Corona Crisis Barometer. The recovery in our barometer was driven primarily by flight movements and a slight brightening of restaurant visits.

However, fears continue to grow that a second wave of infection could reverse the positive developments of recent weeks. In particular, holiday travel (especially to high-risk areas), which has recently been the driver of the positive developments, could lead to increasing numbers of infections. This in turn would bring with it restrictions and potential regional lockdowns, such as in Melbourne.


 

On the barometer: The measures taken to control the spread of the coronavirus have been drastic. The global economy is severely impaired, resulting in an unprecedented drop in gross
domestic product (GDP). The question is now, how fast the economy will rebound if the restrictions are lifted.

The VP Bank Corona Crisis Barometer tracks how well the economy is recovering.

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