A 2021 under the sign of the crisis
3 December 2020
Twice a year, Orgalim’s economists compile and analyse the latest economic trends for Europe’s technology industries.
The autumn report, published hereafter, shows that 2021 will remain under the sign of the crisis as a renewed wave of infections postpones recovery. After a brief but steep recovery in demand in the Europe`s technology industries, the picture is now darkening again.
Even though it is difficult to make assessments in such a volatile climate, the current data shows that the decline in production across Europe for 2020 is pronounced, but not as dramatic as feared in spring. So far however, the assessments for 2021 have changed significantly – from a year of recovery to one where the crisis will continue. The extent to which production can recover is still fraught with great uncertainty. However, current opinion is that there will be no return to 2019 levels as we return to ‘normal’ in 2021. The investment climate still looks very weak and we see very few indicators of sustainable improvement.
Read below the autumn economic report highlighting the impacts of COVID-19 crisis as it enters a new phase in 2021.