July 29th, 2020
Consumer confidence stalls again as virus spread persists
The persistence of COVID-19 contagion around the world - most obviously in the United States and major emerging economies but also in fresh clusters in both Europe and China/Hong Kong - is at risk of reversing the rebound in consumer confidence from pandemic troughs. Public concerns may dictate the pace of economic recovery from here regardless of movement restrictions and markets are on tenterhooks over how quickly countries can tamp down localised COVID spikes before being forced back into more draconian lockdowns once again. Vaccine hopes help but Germany on Wednesday said a widely available one was unlikely before the middle of 2021.
Chart by Ritvik Carvalho and commentary by Mike Dolan.
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