Coronavirus briefing: Sweden’s hospital data continues to signal stability
Coronavirus briefing: Sweden’s hospital data continues to signal stability

The epidemic

  • Global cases have continued to trend up. Cases remain stable in the US and slowly declining in Europe. Russia has seen a small decline in trend.
  • South Asia and Latin America continue to drive cases. Infections continue to grow fast in South Asia, with double digit weekly percentage growth in Pakistan, India, and Bangladesh.
  • Testing in many of these countries remains very limited, meaning that the figures are likely still considerably below the real numbers.
  • In Sweden, new confirmed cases declined slightly. Data on weekly confirmed cases together with tests confirms the picture that testing has driven the recent increase in cases.
  • Sweden’s daily deaths trend has picked up somewhat, but daily volatility remains high. The number of patients in hospitals and ICU has remained stable, however.

Policy

  • In the US, the state of New Jersey lifted stay-at-home orders. Chicago cancelled large events in fear of a rebound in infections following the protests.
  • WHO downplayed previous comments about the rarity of asymptomatic transmission, stressing that some may spread the disease.
  • Swedish train company SJ will loosen restrictions on the use of train capacity so more people can travel from July.
  • France announced a 15 bn EUR rescue package to its aerospace industry, which includes an already announced 7 bn EUR package to Air France-KLM, as well as an investment fund to support SMEs. The government is planning to invest 1.5 bn EUR in research on green aircraft.

Economic effects

  • Swedbank’s card transaction data shows continued stabilisation in spending, read more here.
  • Germany’s exports fell even more than expected in April, with a decline of 24% from March.
  • China’s inflation declined further in May in both CPI and PPI terms, which came in below expectations. Lower CPI was driven by lower food prices, as the effects of swine disease subsided. Producer prices fell further, weighed by lower energy prices and insufficient demand. 


PDF-Document Read the full analysis/report here (pdf)


Maija Kaartinen 
Economist 
Swedbank AB (publ) 
SE-105 34 Stockholm 
Phone: +46 8 700 92 73 
research.swedbank.se 


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