Coronavirus briefing: Continued signs of improvement in Sweden
Coronavirus briefing: Continued signs of improvement in Sweden

The epidemic

  • Global daily cases have continued to rise. India’s case growth has remained fast and cases in Brazil have picked up again. Fast growth also in Mexico, Columbia, and other parts of Latin America. South African cases also remain high but show signs of stabilisation.
  • In the US, daily cases have stabilised and seem to have levelled off in several states.
  • Cases in the EU have picked up slightly, driven by a continued upward trend in Spain. A resurgence in new cases has also sparked concern in Austria, the Netherlands, and France.
  • A record number of infections was registered in Japan and Hong Kong. Singapore and China daily cases have also increased.
  • In Sweden, daily cases have continued to decline. Hospitalisation data also show progress.
  • Cases in Denmark continued to rise a little but remain at low levels similar to June. In the Baltics, Lithuania has seen an increase in cases.
  • Swedish authorities' view is that people have immunity at least 6 months after an infection and commented that there is still no knowledge of cases where reinfection would have taken place.

Policy

  • In Spain, regional governments have been enacting varying measures such as limiting the size of gatherings and closing night clubs. Norway and the UK have reinstated border controls for travellers from Spain. 
  • Norway and Denmark opened for travel without quarantine restrictions from more Swedish counties. In total, seven Swedish counties are now allowed free travel to Norway and 12 Swedish counties now have free travel to Denmark.
  • US Senate Republicans will publish a proposal of stimulus measures. The previous unemployment benefit measures only extend to Friday.

Economic effects

  • Preliminary PMI data came in stronger than expected in Germany and the euro area, driven by the services indices, and now indicate positive growth. US PMIs also improved but less than expected.
  • Sweden’s unemployment rate increased more than expected in June. Labour force development was a contributing factor, however, and hours worked improved slightly. Read more here


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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