Fast Track Data — Weaker Europe likely a blip 11th November, 2021 12:00 pm
The Google mobility data, through to 7th October, suggests activity has taken a bit of a stumble, with only two of our sample group (the UK and Australia) showing any improvement over the past week. The standout decliner was again Russia again, which is in something of a localised freefall at the moment. But we’d downplay the weakness seen in the rest of Europe, the last week of October being a seasonal weak spot due to mid-term school breaks (note the data is not adjusted) and, like the UK the week before, we should see a bounce in the next update. If we don’t then worry, but not until then.
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