{"id":14969,"date":"2020-10-02T15:59:02","date_gmt":"2020-10-02T14:59:02","guid":{"rendered":"https:\/\/lazardfreresgestion-tribune.fr\/?p=14969"},"modified":"2023-02-08T09:46:25","modified_gmt":"2023-02-08T08:46:25","slug":"economic-outlook-s2-2020-an-unpredictable-epidemic-but-a-return-to-full-lockdown-unlikely","status":"publish","type":"post","link":"https:\/\/latribune.lazardfreresgestion.fr\/en\/economic-outlook-s2-2020-an-unpredictable-epidemic-but-a-return-to-full-lockdown-unlikely\/","title":{"rendered":"Economic outlook S2 2020 | An unpredictable epidemic but a return to full lockdown unlikely"},"content":{"rendered":"<h2>Part 1 : an unpredictable epidemic but a return to full lockdown unlikely<\/h2>\n<p>&nbsp;<\/p>\n<p>Nearly nine months after COVID-19 first appeared in China, the pandemic is still spreading. However, the global situation is masking disparities across continents. The emergence from lockdown is bringing with it a resurgence of the pandemic in Europe, and the pandemic is progressing in Asia, especially in India. Meanwhile, Europe is facing a second wave while Africa and Oceania remain relatively unscathed.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-14970 alignnone\" src=\"https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2020\/10\/pespectives-Engl-figure-1.png\" alt=\"\" width=\"1214\" height=\"751\" srcset=\"https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2020\/10\/pespectives-Engl-figure-1.png 1214w, https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2020\/10\/pespectives-Engl-figure-1-300x186.png 300w, https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2020\/10\/pespectives-Engl-figure-1-1024x633.png 1024w, https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2020\/10\/pespectives-Engl-figure-1-768x475.png 768w, https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2020\/10\/pespectives-Engl-figure-1-600x371.png 600w, https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2020\/10\/pespectives-Engl-figure-1-825x510.png 825w\" sizes=\"auto, (max-width: 1214px) 100vw, 1214px\" \/><\/p>\n<p>Although each continent\u2019s pandemic experience has been very different, lockdown measures have been relaxed almost everywhere. Some restrictions have been tightened in the United States and Europe, but the measures are now targeted and localised. As long as the disconnection between the number of new cases and deaths continues and the pressure on the hospital system is not too strong, a return to massive lockdown in Europe seems unlikely.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-14972 alignnone\" src=\"https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2020\/10\/pespectives-Engl-figure-2.png\" alt=\"\" width=\"1219\" height=\"829\" srcset=\"https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2020\/10\/pespectives-Engl-figure-2.png 1219w, https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2020\/10\/pespectives-Engl-figure-2-300x204.png 300w, https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2020\/10\/pespectives-Engl-figure-2-1024x696.png 1024w, https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2020\/10\/pespectives-Engl-figure-2-768x522.png 768w, https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2020\/10\/pespectives-Engl-figure-2-600x408.png 600w\" sizes=\"auto, (max-width: 1219px) 100vw, 1219px\" \/><\/p>\n<p>This approach is all the more likely given that progress on the vaccine front is faster than expected. Several candidates have already entered the final phase of pre-marketing clinical trials, and the US Food and Drug Administration (FDA) has paved the way for fast-track approval before the end of the trials. US and European pharmaceutical companies are gearing up for significant production volumes next year.<\/p>\n<p>&nbsp;<\/p>\n<p><em>To download our Economic Outlook click <a href=\"https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2020\/10\/Economic-and-market-outlook-september-2020_vf.pdf\">here.<\/a><\/em><\/p>\n<p><em>See also :\u00a0<a href=\"https:\/\/latribune.lazardfreresgestion.fr\/en\/market-outlook-s2-2020-unreasonable-equity-markets\/\">https:\/\/latribune.lazardfreresgestion.fr\/en\/market-outlook-s2-2020-unreasonable-equity-markets\/<\/a><\/em><\/p>\n<p><em>The opinion expressed above is dated September 2020 and is liable to change. Latest available data is used.<\/em><\/p>\n<p><span style=\"color: #333333; font-family: 'Arial',sans-serif; font-size: 8pt;\">This document is not pre-contractual or contractual in nature. It is provided for information purposes. The analyses and descriptions contained in this document shall not be interpreted as being advice or recommendations on the part of Lazard Fr\u00e8res Gestion SAS. This document does not constitute an offer or invitation to purchase or sell, nor an encouragement to invest. This document is the intellectual property of Lazard Fr\u00e8res Gestion SAS. LAZARD FRERES GESTION \u2013 a simplified joint stock company with share capital of \u20ac14,487,500 &#8211; Paris Trade and Companies Registry No. 352 213 599. 25, RUE DE COURCELLES &#8211; 75008 PARIS, FRANCE<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Part 1 : an unpredictable epidemic but a return to full lockdown unlikely &nbsp; Nearly nine months after COVID-19 first&hellip; <\/p>\n","protected":false},"author":101016,"featured_media":14894,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[231],"tags":[2097,2100,1980,1979,2099,2101,2096,2098,1971],"class_list":["post-14969","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economic-outlook","tag-africa","tag-asia-en","tag-china-en","tag-epidemic","tag-europe-en","tag-india-en","tag-lockdown","tag-oceania","tag-usa-en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Economic outlook S2 2020 | An unpredictable epidemic but a return to full lockdown unlikely &#8211; Tribune Lazard Fr\u00e8res Gestion<\/title>\n<meta name=\"description\" content=\"Nearly nine months after COVID-19 first appeared in China, the pandemic is still spreading. 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