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July 13, 2020

EU post Covid-19 economic recovery mirage will fade, says US economist

By Paul Dennis

13 July

As the recession induced by Covid-19 affects the world economies, economists recall the situation caused by the 1918 flu pandemic.

Although the June economic data suggests that the US economy has improved, emerging trends suggest that the situation is getting worse again.

However, Daniel Lacalle, chief economist at Tressis Gestion, is upbeat about the recovery in the US compared to the Eurozone.

In one of his latest live shows, Lacalle opined that the economic recovery in the US will be better than that of Eurozone, where the mirage of recovery will fade as ‘demographics, high taxes, and bloated government spending’ work to a disadvantage.

Lacalle believes that US will outperform the Eurozone over the long run despite the temporary setbacks caused by Covid-19.

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