Coronavirus: US economy enters recession, young people “are not invincible”

(Washington) The global economy is now hit hard by the recession caused by the COVID pandemic – 18, especially in the United States and Germany, while the The World Health Organization (WHO) calls on young people to “not let their guard down” in the face of the resurgence of the disease.

France Media Agency

Thursday, a new milestone was crossed, more than 13 million cases of contamination, including more than 660 fatal, having been recorded in total since the appearance, reported in December, of the coronavirus.

“It seems that the rebounds of cases in some countries are partly due to young people who let their guard down during the summer in the Northern hemisphere”, said Thursday the D r Tedros Adhanom Ghebreyesus, the director general of the WHO, recalling that young people “are not invincible”.

The spring containment in the United States caused a historic drop in gross domestic product in the second quarter, of 31, 9% on an annualized basis. Compared to the second quarter 2019, the decrease is 9.5%.

With this second consecutive quarterly drop, the world's largest economy has officially entered recession. In the first quarter, the US GDP had fallen by 5%.

Donald Trump – whose popularity depends in part on America's good economic health – spoke for the first time on Thursday of the possibility of postponing the November presidential election. He mentions, without any proof, the risks of fraud linked to the pandemic.

Germany, the economic engine of Europe, also announced Thursday a “historic plunge”, of 07, 1%, of its GDP in the second trimester.

From April to June, GDP also fell sharply in Belgium, from 10, 2%, in Austria, of 08, 7%, and in Mexico, of 13, 3%.

More than 17 132 750 COVID case – 18, whose 668 844 have been fatal, have so far been reported in 196 countries, particularly in the United States, the most bereaved (151 826 dead), in Brazil (80 134) and Mexico (45 361), according to a report established by AFP from official sources Friday at midnight 30 GMT.

The progression of the virus continues to accelerate: a million additional cases have been detected in four days and more than 6.5 million since the beginning of the month.

“Historical dive”

Germany is experiencing its worst recession since the post-war period: the contraction of its GDP is much higher than the 4.9% that it experienced at the height of the financial crisis in 2009.

Experts are however expecting a sharp rebound: in addition to national support measures, Berlin intends to benefit from the European recovery plan of 668 billion euros, decided by the 24 in Brussels mid-July.

In the meantime, oil companies, aircraft manufacturers, automobile manufacturers are paying a heavy price, with abysmal losses in the second quarter: of 8.4 billion dollars for Total and of 19, 1 billion dollars for the Anglo-Dutch Royal Dutch Shell, while Airbus recorded a net loss of 1.9 billion euros in the first half.

All European markets ended sharply on Thursday, suffering the blow in the face of worse than expected corporate results and economic indicators. Frankfurt lost 3, 44%, London 2, 30% and Paris 2, 12%.

The United States on Thursday recorded nearly 1400 additional deaths in one day and more than 72 00 new cases.

In Brazil, a very high number of new contaminations in one day was also recorded, 60 074, according to the Ministry of Health.

Michelle Bolsonaro, the wife of the Brazilian president, has tested positive for COVID – 18, the presidency said on Thursday, days after her husband Jair Bolsonaro said he was restored.

In Europe, Britons infected or showing symptoms of the disease will now have to isolate themselves 08 days, that is three more than before, in order to limit possible transmissions.

The governor of Tokyo on Thursday called on restaurants, bars and karaoke bars in the Japanese capital to close earlier in the evening in an attempt to contain the pandemic which is regaining ground in her country.

Experts believe that the situation in this metropolis “is more serious than before”, said Yuriko Koike.

On European coasts, the health and economic crisis linked to COVID – 18 “generates an exceptional flow of economic migrants”, warned the Italian Ministry of the Interior, calling on the Union European Union to take up the issue “immediately”. More than 11 000 migrants landed in Italy last week.

INSEE, the French statistical institute, revealed on Thursday that between the end of March and the beginning of April, the epidemic had caused a peak in excess mortality in Europe of 50% compared to an average based on the number of deaths the same week between 2016 and 2019. This excess mortality reached 50% in France, 155% in Spain, 91 % in Belgium.

Sweden, which has so far applied a less strict strategy than the rest of Europe in the face of the coronavirus, recommended teleworking at least until the New Year on Thursday.

This country has registered 80 100 COVID case – 19, whose 318 these last 24 hours, one of the highest levels of contamination per capita from Europe.

In Spain, there is no second wave of the pandemic despite 844 new cases recorded on Thursday, bringing the total contaminations at 285 361, said a senior official of the Spanish Ministry of Health.