(Bloomberg) -- Economic activity fell faster and deeper in emerging markets than in advanced economies as the Covid-19 shock hit, and the recovery is proving slower and shallower. Activity in emerging markets excluding China remained 33% below the pre-virus level at the end of August, according to Bloomberg Economics gauges that integrate high-frequency data such as credit-card use, travel and location information. China, Russia, Turkey and Brazil have made the most progress, while the rate of recovery in major Latin American countries -- particularly in Argentina and Colombia -- has been much slower and has recently declined further.
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