We have been anticipating a large wave of Delta variant infections this quarter to weigh on mobility and generate a modest drag on global growth. In the event, the Delta wave has proved surprisingly mild thus far as global mobility continues to rise. But indirect drags from the Delta variant are probably greater than we anticipated. Its concentration in Asia is extending supply chain disruptions and rising concerns about a transition to a COVID endemic may be weighing on confidence.
This podcast was recorded on September 1, 2021.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-3851149-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2021 JPMorgan Chase & Co. All rights reserved.
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