How will the lockdown be lifted?

Different countries will adopt different approaches to ending shutdowns but a common theme is likely to be that restrictions are phased out gradually by sector and, perhaps, region. The extent to which this is accompanied by new mass testing programmes will have a strong bearing on the speed at which countries open up – as well as the likely response in the event of a second wave of the virus. The gradual approach to opening up is one reason why we expect the recovery to be drawn out for most countries.