Emerging-market recovery lags advanced economies

Activity in emerging markets excluding China remained 35% below the pre-virus level at the beginning of August, according to Bloomberg Economics gauges that integrate high-frequency data such as credit-card use, travel and location information.

Those regions are lagging the recovery in advanced economies, which has also been moderating. China, Russia and Turkey are making the most progress, while in Latin America – particularly Argentina, Colombia and Chile – recovery has been much slower.

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