Moreover, precrisis ranges of exercise are unlikely to return before the third quarter of 2022. We anticipate an analogous trajectory within the United States, with gross sales down 7 to 12 % subsequent yr compared with 2019, and solely a modest recovery before the primary quarter of 2023. We kick off our ten key themes for this yr by taking the temperature of the worldwide economic system and analyzing the complex impacts of the pandemic because it continues its unpredictable progress.

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