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We use data from two sources, Apple and Google, to track mobility across 50 countries. The former is a broader measure of mobility, encompassing a more complete range of activities including walking. The latter provides an indication of economic activity, tracking workplace, retail and transit movements. Notable changes this week are the following:
- In DM, Portugal and Greece have seen the most significant increases in mobility (Chart 1). This is the third consecutive week that data from Greece is up, despite the country experiencing a sharp rise in the number of COVID-19 cases. Higher mobility in European countries more generally has come despite tighter travel restrictions.
- Mobility values in countries such as the Netherlands, France, Belgium and the US have held steady over the week. This has followed a longer-term trend, with historical Apple mobility data plateauing at the same time infections have started to rise (see Graphs below). Flight data from the US also suggests demand for air travel is not returning to early March levels.
- Australia and Sweden have seen both Apple and Google mobility data fall. On Sunday, Australia recorded its deadliest coronavirus day as the country continues to battle its health crisis. It has the lowest Apple mobility score on our list.
- On aggregate, Apple mobility has increased relative to the previous week, with most of the rise coming from emerging and newly industrialised countries. Google mobility, our proxy of economic activity, is down.
- Across EM, mobility in the Philippines and Colombia is down. Cases in these countries are rising, and last week the Philippines announced a return to lockdown, most likely contributing to the fall in activity. Both countries also scored highly on our Macro Risk Scorecard. Furthermore, mobility values in Hong Kong, Chile and Argentina are the lowest on our list.
- The largest increases were experienced in Israel, India and South Africa. All three saw a rise in both mobility values. The highest mobility scores are found in Czech Republic (139), Poland (118) and Russia (117).
For more details on what information the tables and charts in this report represent, see the final bullet point in previous editions.
Bilal Hafeez is the CEO and Editor of Macro Hive. He spent over twenty years doing research at big banks – JPMorgan, Deutsche Bank, and Nomura, where he had various “Global Head” roles and did FX, rates and cross-markets research.
(The commentary contained in the above article does not constitute an offer or a solicitation, or a recommendation to implement or liquidate an investment or to carry out any other transaction. It should not be used as a basis for any investment decision or other decision. Any investment decision should be based on appropriate professional advice specific to your needs.)