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European View: Inflation Risk, Supply Bottlenecks, and Labor Shortages Could Derail the Economic Growth Outlook For The Second Half of The Year The Conference Board of Canada, 10 pages, December 13, 2021 Report

European View: Inflation Risk, Supply Bottlenecks, and Labor Shortages Could Derail the Economic Growth Outlook For The Second Half of The Year

The Conference Board of Canada, 10 pages, December 13, 2021
Report

Inflation risk, supply bottlenecks, and labor shortages could derail the economic outlook for the second half of the year Document Highlights After total output increasing by 2.2 percent in 2021Q2 quarter-over-quarter, economic growth in the Euro Area is likely to resume in Q3 at a robust pace. However, September will yet be another crucial month for the region’s economic recovery. Despite high vaccination rates, as people come back from vacation and schools reopen, fears of another COVID-19 wave due to the spread of the Delta variant intensify. Concurrently, ongoing supply-side bottlenecks, like shortages in raw materials affecting Europe’s manufacturing sector or labor shortages affecting the UK’s services industry, coupled with rising inflationary pressures are likely to weigh on the regions’ economic growth in the second half of 2021.

Inflation risk, supply bottlenecks, and labor shortages could derail the economic outlook for the second half of the year

Document Highlights

After total output increasing by 2.2 percent in 2021Q2 quarter-over-quarter, economic growth in the Euro Area is likely to resume in Q3 at a robust pace. However, September will yet be another crucial month for the region’s economic recovery. Despite high vaccination rates, as people come back from vacation and schools reopen, fears of another COVID-19 wave due to the spread of the Delta variant intensify. Concurrently, ongoing supply-side bottlenecks, like shortages in raw materials affecting Europe’s manufacturing sector or labor shortages affecting the UK’s services industry, coupled with rising inflationary pressures are likely to weigh on the regions’ economic growth in the second half of 2021.

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