Looser restrictions allow recovery to continue

The recovery in GDP was a touch faster than expected in Q3, and activity data released this week point to a continued rebound in Q4. How much output continues to be made up over the coming months will depend on the degree to which COVID-19 restrictions get scaled back. There is reason for optimism. In particular, the Diwali festivities in mid-November do not appear to have led to a renewed surge virus cases.

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