In its latest weekly activity update, Goldman - which on Friday saw tentative signs on hope in the spread of the covid pandemic finding "downward pressure on case growth" - looked at real-time economy indicator focusing on consumer and export activity, the labor market and inflation, and found that while the overall state of the economy is far stronger than where it was in March, the upward momentum has reversed and worse, signs of permanent scarring are beginning to emerge.

Here are the details:

Consumer activity: Consumer spending measures rose by 0.2pp to 94.5% of the pre-virus level over the last week, up from an April bottom of 80%.