Alternative Indicators Show Europe’s Recovery Gains, U.S. Stalls

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Alternative Indicators Show Europe’s Recovery Gains, U.S. Stalls

Following signs of downturn in previous weeks, the latest readings show activity stabilizing across most advanced economies, though still far from 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 and after a temporary downturn in France, Italy and Spain on concern about fresh outbreaks, activity has increased in the past two weeks. The U.K., U.S. and Canada persistently remain laggards, with activity in the latter two at just two-thirds of pre-virus levels.

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