The expansion will endure: Seeking sustained returns
The hope that 8 billion vaccinations and widespread population exposure to the Delta variant would be sufficient to subdue COVID-19 turned out to be false when Omicron struck. At the same time, Citi analysts became convinced that, for 2022 and 2023, the global economic recovery that is now underway will endure and ultimately outlast the pandemic. In short, we believe the world economy and equity markets have not peaked and have room to grow.
Citi analysts do not believe there will be a rapid return to normal anytime soon. In fact, there is a new normal evolving now that is central to our positive economic outlook. This new normal consists of the establishments of a data-enabled, decentralized, flexible and highly efficient economic order. Within it, the accelerated adoption of technology across every industry and every business is a necessity.