Economic developments are likely to be unsteady and uneven across countries and sectors for some time to come and remain subject to elevated uncertainty. As Chart 5 shows, the services sector is clearly bearing the brunt of the pandemic, especially those services industries (including travel, tourism and entertainment) that are most affected by social distancing and containment measures.
Chart 6 shows that the impact of the pandemic also varies across countries, in line with differences in the relative importance of the services sector and available policy space.