Restrictions on international travel remain in force. Inflation in the US will remain above 5% until the end of the year. Economic momentum is already slowing down again in Europe.

Chart of the month

Economics_Chart_0821_EN

In the second year of the pandemic, many people in Switzerland are keen to spend their summer holidays abroad. Figures for Zurich Airport show a 60% increase in departures for the second half of July compared with the previous year. While other parts of the economy have already returned to pre-crisis levels, this is in no way the case yet for Europe’s passenger transport sector. A comparison of the current figures with those since 2011 shows that flight movements from Zurich are still more than a third lower than in the weakest year before the outbreak of COVID-19.

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