Covid-19: What you need to know

It's been another week of dreadful economic numbers, but as far as Covid-19 is concerned, there's hope things are slowly improving. Here are the main stories from ING Economics from the past seven days

In this bundle

Watch: Which market is getting it right?

Different markets are telling us different things about how they see the coronavirus recovery shaping up. So who's right?

Lockdowns lifted, what does this mean for the eurozone economy?

While economic data will continue to look very bleak for some time, make no mistake the bottom of economic activity is already behind us, bar any new…

and

Germany: And this is just the beginning

The worst contraction of the German economy since 2009 is not where the current crisis will end. The second quarter will be more dreadful

The Netherlands

The Netherlands: A relatively mild decline in GDP so far

Dutch GDP fell by -1.7% QoQ in 1Q20, suggesting that the economic impact of the coronavirus was mild, at least in international comparison. The…

Trade

Trade war: Where is Trump heading?

President Trump has threatened to rip apart the US-China trade deal and has not ruled out tariff hikes, if non-Chinese experts are unable to participate…

United States

US: jobless claims slow crawl lower

US initial jobless claims dropped for the sixth straight week, but remain painfully high at 2.98 million. As the economy gradually re-opens this decline…

United States

Fed Chair Powell’s dose of reality

Fed Chair Jerome Powell doesn't pull his punches in his latest economic update. Monetary policy and negative interest rates can't magic up…

China

Hong Kong quarterly: which industries will survive the deep recession?

Trade war. Social unrest. Covid-19. These three hits to Hong Kong's economy have resulted in a difficult recovery path. Now, Covid-19 has subsided but…

China signals more aggressive monetary stimulus

China's credit growth slowed in April but the central bank, the People's Bank of China, has signalled more aggressive monetary stimulus. We expect…