“Think of countries like France and Spain, for example, where industry and construction have remained largely open over the course of the quarter. This has had a very positive effect on GDP, especially because demand for goods and construction has remained strong despite lockdowns in place, mobility, the movement of people which was largely correlated to GDP growth in the first wave, was also stronger in the fourth quarter than during the first wave, which also supported economic activity.
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- Reuters 3 years ago
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