The u.s. economy enters a recession and the youth “are not invincible”

L'économie américaine entre en récession et les jeunes «ne sont pas invincibles»

L'économie américaine entre en récession et les jeunes «ne sont pas invincibles»

“It seems that the rebounds of cases in some countries are, in part, due to young people who let their guard down during the summer in the northern hemisphere”, stressed on Thursday the Dr. Tedros Adhanom Ghebreyesus, WHO director-general, recalling that the young “are not invincible”.

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July 30, 2020 22h26

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The u.s. economy enters a recession and the youth “are not invincible”

Agence France-Presse

WASHINGTON — The world economy is now being hit hard by the recession that has caused the pandemic of COVID-19, in particular the United States and in Germany, while the world health Organization (WHO) is calling on young people to “not let our guard down” in the face of the resurgence of the disease.

Thursday, a new milestone has been crossed, more than 17 million cases of contamination, including more than 660 000 deaths, with the total been recorded since the outbreak, reported in December, the coronavirus.

“It seems that the rebounds of cases in some countries are, in part, due to young people who let their guard down during the summer in the northern hemisphere”, stressed on Thursday the Dr. Tedros Adhanom Ghebreyesus, WHO director-general, recalling that the young “are not invincible”.

The containment of the spring has resulted in the United States a historic fall of the gross domestic product in the second quarter, 32.9 % in annualized terms. Compared to the second quarter of 2019, the reduction is 9.5 %.

With this second consecutive quarterly setback, the first economy of the world is officially in a recession. In the first quarter, the u.s. GDP had declined by 5 %.

Donald Trump — whose popularity depends in part on the economic health of America — spoke on Thursday for the first time, the hypothesis of a postponement of the November presidential election. He mentions, without any evidence, of fraud risks linked to the pandemic.

Germany, the economic engine of Europe, has also announced Thursday a “diving history”, 10.1% of its GDP in the second quarter.

From April to June, the GDP has also fallen sharply in Belgium, 12.2 %, Austria 10.7 %, and in Mexico, of 17.3 %.

More than 17 132 780 cases of COVID-19, of which 668 844 have been fatal, have so far been reported in 196 countries, including the United States, the most mournful (151 826 deaths), Brazil (90 of 134) and Mexico (45 361), according to a report drawn up by AFP from official sources late Friday evening.

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.

“Diving history”

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

The experts expect a sharp rebound : in addition to measures to support national, Berlin account to take advantage of the european recovery plan of € 750 billion (1196 $ billion), agreed by the 27 in Brussels in mid-July.

In the meantime, oil companies, aircraft manufacturers, car manufacturers are paying a heavy price, with losses abyssal in the second quarter : 8.4 billion US $for Total and 18.1 billion US $for the anglo-Dutch Royal Dutch Shell, while Airbus has accused a net loss of 1.9 billion euros ($3 billion) in the first half.

All european markets ended sharply lower on Thursday, accusing the blow in the face of corporate results and economic indicators are worse than expected. Frankfurt has lost 3,45 %, London 2,31 % and Paris 2,13 %.

The United States recorded Thursday, about 1,400 people dead in one day and more than 72 000 new cases.

In Brazil, a very high number of new cases in a day has also been recorded, 69 074, according to the ministry of Health.

Michelle Bolsonaro, the wife of the brazilian president, has been tested positive to the COVID-19, said Thursday the presidency, a few days after her husband Jair Bolsonaro has said to be restored.

In Europe, the British infected with or showing symptoms of the disease will now have to isolate themselves for 10 days, which is three more than previously, in order to limit any possible transmissions.

The governor of Tokyo, on Thursday called on restaurants, bars and karaokes of the japanese capital to close early in the evening to try to contain the pandemic, who returned to the field in his country.

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

On the coasts of europe, the crisis in health and economic related to the COVID-19 “generates a stream of exceptional economic migrants”, warned the Italian ministry of the Interior, calling on the european Union to take “immediately” to the question. More than 11,000 migrants have landed in Italy last week.

Insee, the statistical institute of the French, revealed on Thursday that between late march and early April, the epidemic had caused in Europe a peak of excess mortality of 50 % compared to an average based on the number of the dead in the same week between 2016 and 2019. This excess mortality has reached 60 % in France, 155 % in Spain, 91 % in Belgium.

Sweden, which has until now applied a strategy is less strict than the rest of Europe in the face of the coronavirus, has recommended Thursday, telework at least until the New Year.

This country has grown 80 to 100 cases of COVID-19, of which 318 the past 24 hours, the levels of contamination per capita the highest in Europe.

In Spain, there is no second wave of the pandemic despite 1229 new cases reported Thursday, bringing the total contamination to 285 430, said a top official of the Spanish ministry of Health.

Le Soleil

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