The global economy has been hit hard by the recession caused by the Covid-19 pandemic, particularly in the United States and Germany, while the World Health Organization (WHO) urges young people to “not let their guard down” in the face of a resurgence of the disease: ” nobody is invincible against the coronavirus “.
The global economy has been hit hard by the recession caused by the COVID-19 pandemic, particularly in the United States and Germany, while the World Health Organization (WHO) urges young people to “not let their guard down” in the face of a resurgence of the disease: ” nobody is invincible against the coronavirus “.
On Thursday (30), a new milestone in the Covid-19 pandemic was passed, with more than 17 million cases of contamination, including about 600,000 deaths, a total recorded since the onset of the disease in December 2019.
“It appears that the second wave of cases in some countries is partly due to young people who drop their guard during the summer in the northern hemisphere,” said Dr. Tedros Adhanom Ghebreyesus, WHO director-general on Thursday, recalling that young people “are not invincible”.
The April and May confinement in the United States caused a historic drop in the gross domestic product in the second quarter, 32.9% at an annualized rate. Compared to the second quarter of 2019, the drop is 9.5%. With this second consecutive quarterly decline, the world’s largest economy has officially entered a recession. In the first quarter, US GDP had dropped 5%.
Donald Trump – whose popularity depends in part on good economic health in the U.S. – spoke on Thursday for the first time of the hypothesis of postponing the presidential election in November. He mentions, without any evidence, the risks of fraud related to the pandemic.
Germany, Europe’s economic engine, also announced Thursday a “historic drop” of 10.1% of its GDP in the second quarter. From April to June, GDP also fell sharply in Belgium, 12.2%, in Austria, 10.7%, and in Mexico, 17.3%.
Over 17,053,650 cases of Covid-19, of which 667,361 were fatal, have already been reported in 196 countries, especially in the United States, one of the most bereaved (150,716 dead), in Brazil (90,134) and in Mexico (45,361), according to a report established by the AFP agency from official sources.
The progression of the virus continues to accelerate: one million additional cases have been detected in four days and more than 6.5 million since the beginning of the month.
Germany is going through its worst recession since the postwar period: its contraction in GDP is much greater than the 4.9% it experienced at the height of the financial crisis of 2009.
Experts, however, expect a sharp recovery: in addition to national support measures, Berlin plans to take advantage of the € 750 billion European recovery plan, decided by the 27 European member states in Brussels in mid-July.
Meanwhile, oil companies, aircraft manufacturers and automobile manufacturers are paying a heavy price, with abysmal losses in the second quarter: $ 8.4 billion for Total and $ 18.1 billion for Royal Dutch Shell Anglo-Dutch, while Airbus posted a net loss of € 1.9 billion in the first half.
All European markets ended in a sharp drop on Thursday, hitting corporate results and economic indicators worse than expected. Frankfurt lost 3.45%, London 2.31%, and Paris 2.13%.
Pandemic around the world
The United States recorded almost 1,270 additional deaths in one day on Wednesday and more than 68,000 new cases. In Brazil, there was also a very high number of new contaminations in one day, 69,074, according to the Ministry of Health.
Michelle Bolsonaro, the wife of the Brazilian president, tested positive for Covid-19, Brazil’s presidency said on Thursday, days after her husband Jair Bolsonaro said he was recovered.
In Europe, Britons infected or with symptoms of the disease will now have to isolate themselves 10 days, three more than before, to limit possible transmissions.
The Tokyo governor on Thursday called for restaurants, bars, and karaoke in the Japanese capital to close early in the evening, in an attempt to contain the pandemic that is recovering in his country. Experts believe that the situation in this metropolis “is more serious than before,” said Yuriko Koike.
On the coast of Europe, the economic and health crisis linked to Covid-19 “generates an exceptional flow of economic migrants”, warned the Italian Ministry of the Interior, urging the European Union to address the issue “immediately”. More than 11,000 migrants landed in Italy last week.
INSEE, the French statistical institute, revealed Thursday that between the end of March and the beginning of April, the epidemic in Europe generated a peak of the excess mortality of 50% compared to the average based on the number of deaths in Europe. the same week between 2016 and 2019. This excess mortality reached 60% in France, 155% in Spain, and 91% in Belgium.
Sweden, which has so far applied a less rigorous strategy to coronavirus than the rest of Europe, recommended telecommuting at least until the New Year on Thursday. This country has recorded 80,100 cases of Covid-19, including 318 in the past 24 hours, one of the highest levels of contamination per capita in Europe.
In Spain, there is no second wave of the pandemic, despite 1,129 new cases registered on Thursday, bringing the total contamination to 285,430, said a senior official at the Spanish Ministry of Health.