Box B: Services rebound from the Covid-19 shock

Barry Naisbitt () and Kemar Whyte ()

National Institute Global Economic Outlook, 2021, issue 4, 32-37

Abstract: From Summer 2020, as the effects of the first wave of Covid-19 receded and governments started to remove lockdowns, economic activity began expanding again in the major advanced economies. By the second quarter of 2021, GDP in the US had regained its pre-pandemic level, but the other major advanced economies have lagged in their recoveries (OECD, 2021). After the unprecedented fall in service industries' output in the initial pandemic phase, this Box examines how far service sector activities have recovered over the past year, taking a close look at the performance of sub-industries within the services sector across a select group of advanced economies.

Date: 2021
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