European Economy Faces ‘Long and Bumpy’ Recovery

Europe’s economic recovery from the coronavirus pandemic is well under way, according to sentiment indicators, high-frequency measures and hard data — but activity remains far below normal levels, suggesting that the recovery from recession will be a struggle, the Financial Times reported. The continent’s workers and consumers began to return to work, shopping and dining out from last month onwards, generating an initial post-lockdown rebound. But high-frequency data indicators such as footfall and consumer spending suggest that the economic improvement is patchy and limited by social-distancing measures. The figures are more up to date than official economic indicators, although they are also experimental and the extent to which they reflect the subsequent trends documented in official data is variable. Read more