Taking stock of Q2 GDP and the recovery so far

The latest Q2 GDP figures show diverging depths of downturns between EMs (outside China), which can largely be explained by differences in the severity of virus outbreaks and the stringency of lockdowns. Recoveries are following this pattern too. China’s economy is on the path to normality, while others (India, Philippines and much of Latin America) are lagging as new virus cases remain high.

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