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Europe’s post-lockdown rebound is promising for global economy

European countries’ economies grew rapidly in July as households and businesses were freed of most of the restraints placed on them in a largely successful effort to suppress the coronavirus, according to surveys of purchasing managers.

The strength of the rebound suggests that the global economy is set to expand in the three months through September, having contracted sharply in the second quarter as lockdowns stilled businesses around the world. However, new outbreaks and the fresh imposition of more localised restrictions make it uncertain exactly how rapidly activity will return to the levels seen before the pandemic.

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