The European economy appears set for a fresh contraction in the final quarter of 2020, as business surveys indicate that lockdowns aimed at containing the coronavirus have led to a sharp decline in activity in the dominant services sector.
The new lockdowns mostly came into force in the final week of October. Although narrower than those introduced in the spring, the new measures appear to have hit those services that require close physical proximity almost as hard, while having less effect on most other activities. In Europe,…
