10/25/2021 -Full order books and short-time working are not a contradiction in terms in many countries at present, as prolonged distortions and bottlenecks in supply are affecting the pace of growth. The OECD and IMF are scaling back their economic expectations for this year and instead raising their forecasts for next year in the hope that the economic obstacles currently in place can be removed.

Read more in this mon th’s Macroeconomic Comment by Peter von Elten.