Biotech Leads Bounce-back with 47% Climb Post Lockdown

Across Europe, essential industries like Biotechnology, Defence and Chemicals have seen a gradual return to some productivity since lockdown measures have eased off while more discretionary sectors (Food, Automotive and Aerospace) remain subdued.

According to Huq’s Key Industries Indicator for Europe, which measures footfall of employees to major factories in different sectors, all industries started to gradually decrease with the outbreak of Covid-19 before a dramatic drop in production around mid-March when lockdowns were introduced.

Since policy changes have allowed more movement, a clear divergence between discretionary and essential sectors has emerged. Biotechnology has seen the biggest increase – climbing 47% – followed by Defence (44%) and Chemicals (37%). All of which remain at less than half of their pre-lockdown levels.

In discretionary sectors the data tells a different story; Food production has climbed 24% while Automotive production has risen by 21% and, with planes grounded around the world, Aerospace has unsurprisingly seen the least amount of industrial activity rising just 19%. All three of these sectors remain at less than a third of pre-lockdown levels.

Today we enjoyed taking part in Eagle Alpha’s roundtable talking about alternative data and how it’s helping analysts better understand what a recovery from Covid will look like.


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