Media Finance Outlook Q3 - Q4

“Outlook where a significant proportion of the population has already been vaccinated… is significantly better than for others. Expected global GDP growth has been revised upwards (+5.6%), due to positive surprises from the US.— Coface “BAROMETER” July 21, 2021.”

Executive Summary:
The Delta Variant has the world tapping the brakes — especially related to international travel — while the outlook on inflation remains cautious. Interest rates remain stable into 2022, extending the window for locking in low rates for borrowing. The global supply chain continues to experience severe disruption, which will likely continue through 2022.

Indicators of Strength:

• “Cleveland Federal Reserve Bank President Loretta Mester said …that the U.S. economy is recovering strongly but she is not yet convinced that recent inflation readings will be enough to satisfy the price stability goal the U.S. central bank revamped a year ago.”
  — from Reuters
  

• “We’re tightening up things before we even get [to the fourth quarter]. It’s going to be a really tight market throughout this entire year,” said an executive at a second TV network.
  — by Tim Peterson, Digiday

Indicators of Weakness:

• “Factories and service providers report sharply slower growth due to the Delta variant and troubles in hiring, shipping.”
  — by Josh Mitchell and Paul Hannon, WSJ