Eurozone | Recovery Tracker suffers a setback at end-September
Our Recovery Tracker suffered a setback at September’s end, falling 1.1pts to
87.6 after reaching a new pandemic high two weeks earlier. Lower consumption and weaker financial conditions were the main culprits, with the labour market, production, and mobility components falling to a lesser extent.
The health indicator was the only component to advance, rising for the third
consecutive week. With the health situation overall under control and consumer confidence remaining positive, as revealed by the ESI.
What you will learn:
- Inflationary pressures accompanied by surging energy
prices and persistent supply-side disruptions threaten the outlook
- Lower consumption and weaker financial conditions were the key drivers of the dip, with the labour market, production, and mobility components representing smaller drags
- It it is possible that the fall marks a temporary slump and that consumption and mobility metrics will recover in the coming weeks
Pre-emptive debt restructuring: a viable scenario for Africa?
The question of debt restructuring is becoming a more pressing one: in recent weeks, a number of African sovereigns have openly or discreetly mulled public debt reorganisation, called for debt relief, or suffered credit rating downgrades owing to rising default odds.Find Out More
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