COVID-19 Monitor

Last Updated:October 15, 2020

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Small signs of life return to US economy (FT) Published on: May 30, 2020 | Category: Economic Impact, Global Response

An increase in traffic and a fall in panic purchases at the supermarket are among the signs that Americans are taking their first cautious steps back to normality after coronavirus flatlined the economy.
There is still a long way to go after months of lockdown. But the low for the “two-month recession” probably occurred in April, says Douglas Porter, chief economist at BMO Financial Group.
Purchases of toilet paper and disinfectants have declined 63 and 83 per cent, respectively, according to data from Nielsen.

Sweden snubbed as Norway and Denmark open borders (FT) Published on: May 29, 2020 | Category: Global Response

Norwegian, German and Icelandic tourists coming to Denmark will have to show they have booked at least six nights in the country and will not be able to stay overnight in Copenhagen.
Finland’s ministers and health authorities have suggested that Sweden’s high death rate makes a common Nordic travel area impossible and have instead looked at trying to join the Baltic travel bubble between Estonia, Latvia, and Lithuania.
But there was better economic news for Sweden on Friday as GDP figures for the first quarter showed it was one of the few countries in Europe to enjoy growth in the first three months of the year.
The country’s GDP increased by 0.1 per cent compared with the fourth quarter.

Canada GDP Fell at Near Record 8.2% (WSJ) Published on: May 29, 2020 | Category: Canadian Business, Economic Impact

Canada’s gross domestic product, or the broadest measure of goods and services produced in an economy, fell at an 8.2% annualized rate in the first quarter, to 2.10 trillion Canadian dollars ($1.53 trillion), Statistics Canada said Friday.
The drop in Canadian output in the first three months of 2020 was steeper relative to the U.S., its biggest trading partner and southern neighbor.
Commerce Department data indicate U.S. GDP fell at a 5% annual rate in the first quarter.

COVID-19 Pandemic Wreaking Havoc on Americans’ Retirement Plans While Anxiety over Continued Market Risks Remains (Business Wire) Published on: May 28, 2020 | Category: Economic Impact

58% of Americans say the economic impacts of COVID-19 are having a negative effect on their financial retirement plans.
54% of Americans are worried the market hasn’t bottomed out yet.
Over seven in 10 (72%) say the impacts of the COVID-19 pandemic are making them rethink how to protect their retirement savings from volatility.

Designing insurance for the next pandemic (FT) Published on: May 28, 2020 | Category: Economic Impact

But Ms. Eastwood has been told by Hiscox, the Grand’s insurer, that the policy does not cover the costs of the closure, because the government’s wide-ranging response to the pandemic falls outside the scope of the contract.
Along with about 400 other companies the theatre is looking at whether to sue Hiscox over the claim.
Insurers say the pandemic will be one of the most expensive events in the history of their industry, potentially costing them more than $200bn — with half of that in payouts.

New York Stores Can Ban Customers For Not Wearing Masks (Hudson Valley Post) Published on: May 28, 2020 | Category: Global Response

Gov. Andrew Cuomo signed a new order that gives store owners the right to ban any customer that enters without wearing a mask.
Cuomo says New York has received $23,840 of federal COVID-19 funding per positive case as opposed to Alaska which received $3,395,739 per COVID-19 case.
The New York Stock Exchange reopened after two months but Cuomo doesn’t think it will “bounce back.” He doesn’t think the U.S. economy will bounce back on its own after the pandemic because too many small businesses have closed.

‘They didn’t get to die with dignity’: Canada reexamines care for seniors (Christian Science Monitor) Published on: May 28, 2020 | Category: Canadian Business, Global Response

In Quebec, which has seen the highest coronavirus infection and mortality rates in Canada, 63% of COVID-19 fatalities have occurred in long-term care facilities, known as CHSLDs.
But although both countries have suffered outbreaks in nursing homes, that problem has been much more severe in Canada: More than 80% of COVID-19 fatalities in the country are linked to them, according to Theresa Tam, Canada’s chief public health officer.
This week the Canadian Armed Forces shook the nation with a damning report on the unsafe state of five long-term care facilities in Greater Toronto.
Advocates and victims’ families are calling for public inquiries as to what went wrong and for new national standards for long-term care to be established.

The Health 202: Americans are not expecting a quick return to normal. Or a vaccine next year. (Washington Post) Published on: May 28, 2020 | Category: Economic Impact, Global Response

A spate of recent polls reveals Americans’ attitudes toward the novel coronavirus, which has taken the lives of 100,000 people in the United States. Here’s what we learned.
Nearly half of Americans say they or someone in their household skipped or delayed medical care because of the outbreak.
A third of Americans are showing signs of clinical anxiety or depression, Census Bureau data shows, the most definitive and alarming sign yet of the psychological toll exacted by the coronavirus pandemic.

8 Questions Employers Should Ask About Reopening (HBR) Published on: May 28, 2020 | Category: Leadership

According to a survey of 854 U.S. employers we completed in early April, 42 per cent reported that the majority of their workforce could work remotely — compared to just 14% before the pandemic.
It’s best to have workers return gradually, which allows for lower density, making physical distancing less of a challenge.
45 per cent of employers in our survey reported using thermal scanning to identify employees with fevers and exclude them.

Researchers Applaud Spanish COVID-19 Serological Survey (The Scientist) Published on: May 28, 2020 | Category: Global Response

After initial setbacks, the country’s recent antibody screen estimates that 5 per cent of the population has been exposed to SARS-CoV-2.
Unfortunately, this means almost all of the population is still at risk.
“There is no herd immunity in Spain.”

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