US economy recovery prospects have been improving continuously since mid-2020 on the back of the sustained and very large fiscal stimulus and of the fast vaccination process. Cumulated GDP advance over 2020-2021 was forecasted by the FED at 2.8% in March 2021, up by 4.6 percentage points from the forecast published in June 2020.
At the opposite side, Euro area economic recovery process is suffering as fiscal stimulus size is limited and the vaccination process is not progressing very fast. ECB forecast on cumulated GDP growth over 2020-2021 from March 2021 was almost similar to that published in June 2020, revealing a contraction of 3.2% in these two years.
