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Vanguard economists address the COVID-19 shock, an expected two-phase recovery, and a sanguine investment outlook.
Vanguard economists take stock of how COVID-19 has reshaped their outlook for the economy and where they see markets going from here.
Vanguard's outlook for 2020 GDP across different markets is largely unchanged from last month although there is the possibility of upside revisions to Asia and Australian forecasts, assuming any second waves of infection don't require national lockdown.
Amid the COVID-19 pandemic, the International Monetary Fund lowered its forecast for growth in emerging and developing economies for both 2020 and 2021. The way out won't be easy. But not all is lost for emerging markets.