Oliver Mangan: Markets not celebrating Covid-19 rear-view mirror growth figures

Economist Oliver Mangan says retail spending figures point to a strong rebound over the summer but stock market are still falling back

The ECB has acknowledged the risks to growth despite the better than expected performance of the economy in the third quarter, saying it will respond at its next policy meeting in December. Picture: Leah Farrell/Rollingnews.ie

The latest figures for economic growth out of the US were impressive and ahead of expectations and consistent with a V-shaped recovery, while across the eurozone, GDP also came in ahead of expectations.

Here in Ireland, third-quarter GDP figures will not be available for some time yet, but retail spending figures point to a strong rebound over the summer.