Alternative Data Show Slow Recovery in Europe, U.S. Lags
(Bloomberg) -- Economic activity is stabilizing across most advanced economies, though still far below pre-Covid levels, according to Bloomberg Economics gauges that integrate high-frequency data such as credit-card use, travel and location information. Norway, Germany and Japan remain at the forefront of the recovery. After a temporary downturn in France, Italy, and Spain on concern about fresh outbreaks, activity there has increased in the past two weeks. Sweden has recently joined the group of the laggards -- the U.S., U.K., and Canada.
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