Europeans have doubted the bright future of the region’s economy. The EU economic sentiment index fell sharply in November as the coronavirus situation worsened and new restrictions were introduced to contain the infection. Bloomberg writes about it.
The indicator for the month fell from 91.1 to 87.6 points. The most pessimistic are retailers, service providers and consumers. In industry and construction, there is only a slight deterioration in sentiment. The EU employment expectations indicator fell for the second month in a row.
Earlier it became known that the authorities of many European states have extended restrictions related to COVID-19. For example, Germany has extended partial isolation until at least December 20, and France has set tough conditions for the catering sector. Local restaurants will not open until January 20, 2021. The extension of the restrictions is expected to negatively impact economic performance in the fourth quarter of 2020.
Earlier, the agency named the European country least affected by the coronavirus. It was Lithuania, whose GDP by the end of the year is expected to fall by only 2.2 percent. As experts explained, the economy of this country does not depend on tourism, local farmers have reaped a good harvest, and logistics companies have benefited from the increase in the number of online orders.