Source: https://huq.io/indicators/key-industries-across-europe-fall-by-10-following-post-lockdown-surge/
Key Industries across Europe have plateaued following an initial growth spurt post-lockdown, with footfall to Chemical, Biotechnology and Defence manufacturing plants dropping by around 10pts in the last week.
According to Huq’s ‘Key Industries Indicator’, these three staple industries saw an initial flurry of activity post lockdown but this rising trend plateaued here and has yet to see another surge. Since the start of June, where Huq reported on a 47% increase in activity, Defence has dropped by 11%, Biotechnology by 8% and Chemicals by 4%.
While the picture of recovery has become more subdued across key industries, Huq’s ‘Key Consumer’ Indicator tells a different story and has seen a sharp rise in footfall to shops and other consumer-facing businesses the last two weeks. Looking at the two insights alongside one another begs the question; what is causing such a clear disparity? How long might it take for consumer spending to filter back into manufacturing?
Among Key Industries, the distinction between staple and discretionary sectors remains pronounced with Automotive, Food and Aerospace production levelling out at around 25% of pre-lockdown levels.
To learn more about the data behind this article and what Huq has to offer, visit https://huq.io/.
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