Courtesy of ZeroHedge View original post here.
Economic activity in Europe is stalling as nineteen European countries have recently reported increasing confirmed COVID-19 cases. The shape of the recovery is transforming from a so-called "V-shaped" to more of a "Nike swoosh."
The latest high-frequency data from Europe is giving way to renewed gloom in the back half of the year as hopes for a robust recovery wane.
High-frequency data reveals Europe's recovery stalled in July.
High-frequency data from advanced economies shows much of the same: The recovery is plateauing.
Global macro is having trouble beating to the upside in mid-August.
The global economic recovery appears to be running out of steam ahead of the US presidential election.