Business

US recovery from crisis unlike what Europe is experiencing


NEW YORK • Economic reports released on both sides of the Atlantic last week painted very different pictures of how the United States and Europe are recovering from the pandemic.


The recession in the 19 nations sharing the euro currency reflects far less aggressive stimulus spending and a botched effort to secure vaccines that has left many major economies contending with continued restrictions on daily life.


"It's quite hard to see growth when most European countries are still facing restrictions," said Mr Angel Talavera, lead euro zone economist at Oxford Economics in London.


Still, economic growth figures are a snapshot of the past, and recent weeks have produced encouraging signs that Europe is already on the mend.


Growing numbers of people are travelling through European cities, eager to spend money saved while they were sequestered at home during the worst of the pandemic.


A version of this article appeared in the print edition of The Sunday Times on May 02, 2021, with the headline 'US recovery from crisis unlike what Europe is experiencing'.






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