Eurozone | Recovery Tracker slows to a crawl heading into winter
Our eurozone Recovery Tracker recorded a small increase over the two weeks ended October 24, rising 0.3pts to 88.0, just shy of its post-pandemic high. The gain was driven by improvement in financial conditions and production; but, worryingly, the health situation is deteriorating again.
What you will learn:
- The glass-half-full view says that the recovery is on a solid footing and activity has reached close to pre-pandemic levels.
- The glass-half-empty view would counter that the recovery momentum has clearly faded in Q4 and the current stage of the recovery will be much slower and difficult as the easy gains have been exhausted.
- Our assessment is a synthesis of the two views.
Tags:
Related Services
Post
Big shifts are underway in Russia-China trade
Data for Q3 on the volume of China's imports of crude from Russia show a drop against the June level. Rather than an indication that China's demand has peaked, this may be a sign that China is preparing for the Russian oil price cap recently agreed by G7 by shifting some of its purchases to the grey market.
Find Out More
Post
Indonesia likely to miss fiscal target in 2023
We expect Indonesia's budget balance to show a large deficit in H2 of this year as the cost of fuel subsidies is finally reflected in the fiscal accounts.
Find Out More