With the continued decline in new reported Covid cases globally, it is no surprise that we’ve started to see an improvement in overall activity levels.  At least based on the Google data. Indeed, all but one of the countries in our sample recorded a week on week improvement.  The worst was France and that was simply stable.  Europe remains at the bottom of the pile in terms of overall activity, but the corner has certainly been turned and we’d expect to see this pick-up to extend and accelerate over the coming weeks.