In the spring, the easing of health restrictions in the main western economies enabled economic activity to expand. In Europe, it still remained below the pre-crisis level, while in the United States it had now exceeded it. This increase seems to be driven by household consumption, particularly with dynamic retail sales over this period. Industrial production was less sensitive to national health constraints and remained stable in the majority of countries. Since June, “high-frequency” data suggest a gradual return to normal, despite a health context coping with the spread of the Delta variant in August.