The U.S. economy has seen a continued pick-up mainly in its labor market indicators, reflecting moves to resume economic activity despite the ongoing spread of COVID-19. However, it is of concern whether the pace of economic recovery will be sustained, given the resurgence of COVID-19 and anxieties about the political and social situation.
In Europe, some signs of heading toward a pick-up have been observed, with indications of a resumption in economic activity, as seen in border restrictions starting to be relaxed within and from outside the European Union (EU). Yet, the economy remains significantly depressed.