22/11/2020
CECE (Committee for European Construction Equipment) reports that activity rebounds in advanced countries in Q3, but it’s only a partial recovery. The latest GDP figures indicating strong growth are misleading, as activity levels remain well below pre-crisis levels AND are pre-second wave. For example, if GDP levels in the 3rd quarter of 2020 are compared with the 4th quarter of 2019, the shortfalls are as follows: France -4.1%, Germany -4.2%, Italy -4.5%, and the United States -3.5%.