Uncertain Economy Recovery in Europe during Coronavirus period - Supported by industrial production
After an unprecedented recession triggered by the pandemic, the EU economy rebounded in Q3 2020, however, production remained well below pre-pandemic levels. Among the industry, air travel and the tourism industry were hardest hit, whereas industrial production increased for a sixth consecutive month in October 2020, demonstrating the sector's relative resistance to pandemic restrictions
The level of additional deaths in the EU were increased in August-September 2020 after remaining reasonably flat in May-July 2020. Such levels were however, well below the level of the April 2020 high, during the early outbreak of the coronavirus pandemic.
The EU unemployment rate has been steady, with customers offering a further boost to retail sales in October 2020. However, economic sentiment worsened in November 2020, due to coronavirus restrictions reinforced across EU Member States.