The global level of our proprietary Newscaster remains positive (0.2) but has deteriorated meaningfully from its recent high at the start of November (1.1) due to the varying impact of the coronavirus globally. The US indicator remains in positive territory (0.6), but is down from a recent high on record numbers of new cases and a death toll that is reaching levels last seen during the depth of the crisis. The situation in Europe is concerning, as new social restrictions, driven by a resurgence in coronavirus cases, continue to weigh on economic newsflow. In sharp contrast, economic news out of China remains very positive and continues to support the indicator. Having oscillated between 1 and 2 since July, the China indicator is currently at 1.7.
Source: Ravenpack, Bloomberg, Unigestion. Data as at 20 November 2020.
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