Eco Week
Economic Pulse

Covid-19: The decline of new cases continues

10/10/2021
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DAILY CONFIRMED COVID-19 CASES (7-DAY MOVING AVERAGE)

The number of daily new Covid-19 cases reported worldwide continues to decline. Some 3.1 million new cases were recorded between 29 September and 5 October, a fall of 8% on the previous week (chart 1). The number of deaths also decreased by 10%, reaching its lowest level since the autumn of 2020. However, in Europe there is an rising trend in pandemic-related indicators, with cases up by 11% and deaths by 9%, with the increases mainly concentrated in the east of the continent. To date, 6.41 billion vaccine doses have been given around the world, taking the share of the global population having received at least one jab to 46.1%. However, in certain parts of the world, vaccine coverage remains low: only 2.4% of people in low-income countries have received at least their first dose (chart2).

SHARE OF PEOPLE WHO RECEIVED AT LEAST ONE DOSE OF VACCINE

Meanwhile, there has been a recent drop in visits to retail and recreation facilities in France, Italy, Belgium, Japan and the UK, but continued increases in Germany, Spain and the USA. It is worth noting that in Belgium such visits are still at their pre-pandemic levels, despite recent falls (chart 3). Lastly, the weekly proxy indicator for GDP relative to its level two years ago continued to recover in the USA and UK, but weakened in Germany, France, Spain, Italy and Japan after a short-lived rebound. In Belgium, this indicator has risen slightly after a brief dip (chart 3). The OECD Tracker is based on Google Trends resulting from queries on consumption, the labour market, housing, industrial activity as well as uncertainty. The change over a two-year period (y/2y) is calculated to avoid the base effect that would arise from a comparison with 2020 data.

RETAIL AND RECREATION MOBILITY & OECD WEEKLY TRACKER
DAILY NEW CASES & RETAIL AND RECREATION MOBILITY
THE ECONOMISTS WHO PARTICIPATED IN THIS ARTICLE

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