As I outlined earlier, we expect the recovery in economic activity and household spending to have two phases. The first phase, the reopening, will be a relatively rapid and strong pickup as some of the measures are lifted and households consume goods and services they could not buy during the containment period. But the recovery will be only partial.
Finally, let me share a quote from the American industrialist and business magnate, Henry Ford. He said that “Coming together is a beginning, staying together is progress, and working together is success. If everyone is moving forward together, then success takes care of itself."