Global economy won’t return to pre-pandemic levels ‘for a long time’ – Deutsche Bank

“The pre-crisis level will be difficult to reach and it will take a long time. This is not going to happen this year and not next year either,” the banker told an audience at the Handelsblatt Banking Summit in Frankfurt earlier this week.

While some parts of the economy will not operate in full, with some sectors running at 70-90 percent capacity, a bulk of companies will have to live with reduced sales for quite a long time, according to Sewing. He added that recovery will eventually happen, but “only step by step and not in all industries.”