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Policy and Economic Report:
Oil & Gas Market

Source: World Economic Forum

Impact of COVID on Innovation

The Global Innovation Report underlines that the world has been hit by the pandemic at a time when
global innovation was flourishing. The report raises the crucial question of who will finance innovation in
the future as emergency relief measures do not directly target at financing innovation, with the exception
of health. This report indicates that the innovation will further broaden out as the pandemic comes under
control. The report states that it is crucial that support for innovation becomes broader and that it is
conducted in a countercyclical way – as there is a fall in business investment into innovation, Governments
should push for innovation through a boost to their own expenditure.

4. As Americans grow optimistic about the economy, consumer sentiment index reach six month high

Consumer sentiments in the US saw an unprecedented surge in the month of September, reaching a six
month high as more and more Americans grew upbeat about the prospects of the economy. The

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September 2020