As Coronavirus Resurges, Alternative Data Indicate a Drop in Economic Activity

As Coronavirus Resurges, Alternative Data Indicate a Drop in Economic Activity

Economic activity in advanced economies has weakened over the course of October amid renewed outbreaks of the coronavirus, according to Bloomberg Economics gauges that integrate high-frequency data such as mobility, energy consumption, and public transport usage. In the U.S., the improvement evident in the third quarter has petered out: The latest numbers show activity weakening again. Major European economies, notably France and Italy, also saw activity retreating, even ahead of fresh restrictions.

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