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Economic and Industry Outlook 2020: Fourth Quarter Perspectives

Economic and Industry Outlook 2020

In the context of the sharp fall in the dynamics of global activity, resulting from a totally different shock than those that caused the most recent economic crises, this report highlights that the global economy is in a stage of stabilization and eventual recovery, not extent of risks that will be exacerbated by the very dynamic of the Covid-19 pandemic. In this framework, the report provides a revision of the 2020 economic growth expectations, with a relative improvement, but a certain deterioration next year, which will have tenuous and asymmetric growth on a global scale. This relative recovery, which will be slow, subject to great uncertainty as a result of new outbreaks of the illness, and uneven depending on the country and sector, will negatively affect the insurance industry, but to a lesser extent that other sectors that are more vulnerable to the risks of the health crisis caused by the pandemic.