Europe, U.S. Economic Activity Slows Further on Virus Resurgence

Alternative, high-frequency data show that activity in several of the world’s largest advanced economies slid at the beginning of December, reflecting a surge in the rate of Covid-19 infections and stricter containment measures. After a temporary period of stability in Europe in November, activity slowed further in Germany, Italy and Spain, according to Bloomberg Economics gauges that integrate data such as mobility, energy consumption and public transport usage. France saw some pickup recently, likely reflecting gains from starkly retrenching infections, while activity in the U.S. decelerated.