Coronavirus briefing: The epidemic continues to escalate in the US
Coronavirus briefing: The epidemic continues to escalate in the US

The epidemic

  • The pandemic continues to accelerate on a global scale. On Sunday, the total number of people to test positive for Covid-19 worldwide passed 10 million.
  • The epidemic continues to escalate in the US. More testing can´t explain the total increase and too fast reopening also contributes to the increase in infections.
  • It is possible that during the second wave of infections, there will be fewer hospitalizations and deaths in the US, due to both increased testing and the younger skew in confirmed cases. However, last week, many US states reported their highest coronavirus patient admissions in the pandemic so far. The data is also already showing a pickup in deaths in many states.
  • In Sweden, new cases and deaths increased last week. Data on the number of patients in hospitals continues to slowly decline in both total and intensive care.

Policy

  • Many states in the US are halting their reopening, after the increase in infections. For example, all bars have been closed in Florida, Texas, and seven counties in California.
  • China has placed nearly half a million people under strict quarantine around Beijing to curb new coronavirus infections.

Economic effects

  • According to Swedish card transaction data up until 20th of June, total cards' turnover is now back at last year´s level, with a different composition, however.
  • In Finland, consumer confidence recovered further in June. The consumer confidence indicator stood at -3.9 in June, while in May it was -9.0 and in April -13.


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

Sonja Liukkonen
Junior Economist 
Swedbank AB (publ) 
FI-00100 Helsinki 
Phone: +358 400 98 21 59 
research.swedbank.se 


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