According to the latest figures published by Johns Hopkins University, 4.6 million new Covid-19 cases were recorded worldwide between 19 and 25 August, up 1.2% on the previous week. Cases increased in both North America (10.8%) and Europe (3.5%). Conversely, decreases were recorded in South America (7.7%), Asia (4.0%) and Africa (1.9%) over the same period (chart 1). In addition, vaccination drives have continued to make progress around the world, especially in the European Union where the pace of vaccination remains very high (chart 2).
Despite the Covid-19 situation, retail and recreation mobility is still holding up at its pre-pandemic level in Germany, Belgium and Italy. Vaccinations have thus tempered the impact of new cases on economic activity. Mobility is still below its pre-Covid level in several countries (France, Spain, the United States, Japan and the United Kingdom), with declines ranging between 17% (Japan) and 3% (France). It is worth noting that footfall in France was back at its pre-pandemic level during the first week of August (chart 3).
Lastly, the OECD Weekly Tracker of GDP growth has dipped slightly as of late in most of the world’s most advanced economies. The OECD now calculates this indicator on a two-year rolling basis to avoid the base effect caused by comparisons with the figures for 2020. That said, it has improved recently in France and Italy (chart 3). The indicator is calculated by the OECD based on Google Trends data resulting from queries on consumption, the labour market, housing, industrial activity and uncertainty.
