Eurozone economy edges back towards pre-pandemic norms

Consumers in the eurozone are flocking back to bars and restaurants, booking holidays and travelling to work again, according to unofficial data that suggest pre-pandemic patterns of economic activity are re-emerging. The use of public transport and journeys to workplaces have hit their highest levels since early last year in many countries, according to high-frequency data. The alternative indicators have become widely watched since the start of the pandemic because they offer a more timely gauge of activity, although they are less comprehensive and reliable than official data. “We’re going back to a form of normality very quickly now,” said Bert Colijn, economist at ING. Several measures of activity are already outperforming their levels last summer, he added: “This fuels expectations of a quick economic rebound.”

Source: Eurozone economy edges back towards pre-pandemic norms | Financial Times (ft.com)