
MARKET OUTLOOK FOR 2021
Economic growth in the developed world is more reliant on the service sector than on manufacturing. In order for the consumer driven western economies to thrive, everybody needs to consume. It goes without saying that COVID driven shutdowns have decimated a large part of the service sector. Furthermore, as of today, only the high income groups are doing well, while the lower income groups, who have borne the brunt of the COVID related job losses and often infections through j