Eurozone | Recovery Tracker shows momentum stalling, not reversing

Our Recovery Tracker recorded a second consecutive mild contraction in the week ending July 25, falling 0.3pts to 85. This suggests momentum may be stalling in the eurozone, but we caution against overinterpretation just yet.

What you will learn:

• Although the financial and labour market components declined, both remain solid
• The contraction shows that a sustained recovery isn’t possible without
  strong health fundamentals
• Traveling the final mile to reach pre-pandemic activity levels might prove tricky