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Eurozone: Nowcast indicator suggests weak start to 2021
The first full week of January saw a slight uptick in the index, from 90.8 in the week starting December 28 to 92.6 in the one beginning January 4. An improvement in activity was to be expected given the downward impact of the holiday period. Searches for unemployment and benefits increased again, which was also the case for mobility, providing opposing signals for our index. The improvements were also notable in electricity usage and nitrogen dioxide emissions. Overall, the slight increase in the index does not show a break from the trend. After the August peak in activity, there has been a steady decline in the ... (full story)