Europe’s economic recovery is stalling as signs of a second wave of Covid-19 infections drive fears the continent will follow the US into a double-dip downturn . Live economic signals tracking hiring, road traffic and consumer confidence this weekend indicate the region has stopped clawing back lost output and risks going into reverse. Economists at Jefferies said their growth gauge had failed to improve in the last two weeks, indicating that rebounds in Germany, Italy and Spain were losing momentum. […] It suggests the recovery in German activity stopped at around 68pc of pre-virus levels, while Italy and Spain are struggling at just above 60pc each. […] Chiara Angeloni, Bank of America economist, warned that the “virus situation seems to have slowed the recovery of consumer confidence” in Europe as well.
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