Coronavirus briefing: Small signs of hope in Europe
Coronavirus briefing: Small signs of hope in Europe
The epidemic

  • Globally recorded cases have continued to climb. The EU and the UK have seen a slight decline in daily cases, but hospitalization remains high in many countries. Cases have moved downwards among others in France, Belgium, the Netherlands, and Czech Republic.
  • In the US, daily cases and deaths are rising, and the number of people in hospitals has hit new record levels.
  • Daily cases in India have continued to move sideways. While the increase in new cases and deaths continues in Russia.
  • Daily cases have continued to surge in Sweden, and hospitalizations have continued to rise fast.
  • Elsewhere in the Nordics, cases in Denmark have moved downwards, while cases in Norway show signs of stabilization. Daily cases in Finland have continued to move sideways and remain the lowest among the Nordics. 
  • In the Baltics, the rapid increase in daily cases has continued in Lithuania during the past week. There is a small decline during recent days, but we need to wait to see if this is just due to less reporting during the weekend. 

Policy and vaccines

  • In the US, Michigan and Washington joined several other states where new restrictions have been announced.
  • Austria will go to a strict lockdown on Tuesday. People will be allowed to leave their homes to buy groceries, travel to essential work, or provide urgent care.
  • In Sweden, local restrictions are now in force in 18 of the county’s 21 provinces. According to Sweden’s Minister of Education, infections have been increasing most among high school students. It is possible that schools will be closed after the Christmas holidays if the surge continues.
  • Globally, twelve vaccines are now in a large-scale efficacy test phase (phase 3), and six vaccines have been approved for early or limited use. 

Economic effects

  • In Sweden, core inflation increased from 0.92% y/y to 1.09% in October, read more here
  • In Norway, inflation rose by 0.1pp in October to 3.4% y/y, read more here.
  • In Finland, the trend indicator of output grew by 2.6 % q/q in Q3. Economic activity remains still 4.0% below last year’s level, read more here.

Link Read the full analysis/report here (pdf)

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

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