Eurozone Recovery Tracker slows down further over Christmas
Our eurozone Recovery Tracker saw further deterioration over the Christmas period, falling 1.5pts to 79.1 in the three weeks ended December 26. High-frequency data tend to be noisy around the end of the year. But the direction of travel is clear, and the indicators seem to confirm a further slowdown ahead.
What you will learn:
- There’s a growing divergence between the subcategories of the Tracker. Consumer spending and mobility have fallen sharply as the health situation deteriorates. On the other hand, however, financial conditions and the labour market remain resilient, while industry is making sustained gains.
- We expect voluntary social distancing and widespread absenteeism due to self-isolation rules to weigh on economic activity in the next few weeks as the Omicron variant surges.
- Given its high transmissibility, the wave is likely be sharp but short-lived, while the booster rollout should limit severe outcomes.
Tags:
Related research
Post
Little by little—Manchester is closing the output gap
Greater Manchester has led the UK economy since 2008, driven by knowledge jobs, transport upgrades, and housing growth—but can prosperity reach its outer districts?
Find Out More
Post
Asia’s cities are reshaping the world
From Seoul to Delhi and Shanghai, Asia’s urban centres are rapidly overtaking global rivals as living standards soar. What will this mean for the balance of global economic power?
Find Out More
Post
The rise of Southern India’s business service hubs
Over the next five years, India is set to be one of the fastest-growing major economies across Asia Pacific, lead by the performance of its IT and business services. The Southern states of Karnataka and Telangana are at the forefront of this success as they are home to two of India’s most rapidly growing cities and productive cities—Bengaluru and Hyderabad.
Find Out More
