Alternative Data Show Europe Slowing, U.S. Gaining

(Bloomberg) -- After gaining traction in the latter half of September, economic activity has again weakened in October, particularly in European countries, according to Bloomberg Economics’ gauges that integrate high-frequency data such as mobility, energy consumption, and public transport usage. Following concerns about renewed outbreaks amid strong rises in Covid-19 cases, activity in Germany, France, Spain and Italy has leveled off. In contrast, after a long period of stagnation, the U.S. is now increasingly catching up to its European peers. With activity at just two-thirds of pre-virus levels, Canada and the U.K. are the worst-performing advanced economies BE is tracking.

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