Christmas Lull Takes Economic Activity Back to Covid Lows

Christmas Lull Takes Economic Activity Back to Covid Lows

Activity in several of the world’s largest advanced economies plummeted over the Christmas holidays, according to Bloomberg Economics gauges that integrate data such as mobility, energy consumption and public transport usage. An increase in Covid-19 infections and stricter containment measures in November and early December, exacerbated the slide. A decline in mobility and other alternative data indicators often occurs over the Christmas and New Year holidays, but in some countries, such as Germany and Italy, very strict containment measures imposed shortly before Christmas added to the weakness.

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