A couple enjoy drinks at a restaurant on Ocean Drive in Miami Beach, Florida, on June 26. Patrons flocked to restaurants and entertainment venues after the state eased restrictions to curb the spread of Covid-19, but Florida is now seeing a surge in case numbers. Photo: AFP
Opinion
Opinion
Macroscope
Has the coronavirus-hit global economy seen the worst of the crisis? It’s too early to tell
- While the stock market and business surveys point to a rebound, the improvement in economic data is rooted in the steep contractions in output earlier this year
- Markets seems to be conflating the stronger-than-expected rebound with a smooth recovery
A couple enjoy drinks at a restaurant on Ocean Drive in Miami Beach, Florida, on June 26. Patrons flocked to restaurants and entertainment venues after the state eased restrictions to curb the spread of Covid-19, but Florida is now seeing a surge in case numbers. Photo: AFP