COVID-19: Economic Impact Round-up (4-8-2020)

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The COVID-19 pandemic continues to worsen and now stands at 1,446,242 cases worldwide – a near doubling last week’s total. According to data compiled by John Hopkins University, countries with the largest outbreaks are as follows: the United States (399,929 cases), Spain (146,690), Italy (135,586), France (110,070),  Germany (107,663), China (82,809), Iran (67,286), and the United Kingdom (55,957). There have now been over 83,149 deaths recorded worldwide.

The situation has yet to stabilize in the United States, though there are some encouraging signs that a peak might be on the horizon. Most recently, the rate of new hospitalizations slowed in New York – the epicenter of the US outbreak. Yet the state also reported its highest one-day death total since the outbreak began with 731. It was joined by New Jersey in reaching the grim new milestone; that state saw 232 people die over the past 24 hours. Together, the two account for the vast majority of US fatalities from COVID-19.

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