Key Points:
- Confirmed cases 1 605 277
- Deaths 95 751
Live CoronaVirus Monitor here
- Lockdown has worked, says South African President, Ramaphosa as he extends it for 2 weeks
- Thailand reports 50 new coronavirus cases, 1 new death
- US CDC extends ‘No Sail Order’ for all cruise ships
- South Korea reports 27 new cases
- More than 100 Italian doctors die due to coronavirus
- Mexico reports deaths for two pregnant women due to coronavirus
- Chicago prison reports 450 cases of coronavirus
- China reports 42 new coronavirus cases
- California reports dip in ICU admissions
- New cases in Germany jump 5,323
- JPMorgan now sees economy contracting by 40% in second quarter, and unemployment reaching 20%
Lockdown has worked, says Ramaphosa as NICD head warns of ‘evolving epidemic
While it is too early to draw definitive conclusions over the coronavirus outbreak that hit our shores, President Cyril Ramaphosa said on Thursday the evidence showed the lockdown is working to slow its spread.
Ramaphosa announced a two-week extension to the nationwide lockdown, which was due to end on 16 April, during a televised address from the Union Buildings in Pretoria.
Restrictions will now continue until 30 April.
Since the lockdown came into effect, the rate at which new cases have been identified here in South Africa has slowed significantly. From 1 170 confirmed cases on 27 March, the number of confirmed cases today stands at 1 934,” he said
JPMorgan now sees economy contracting by 40% in second quarter, and unemployment reaching 20%
JPMorgan economists issued an even more dire forecast, now foreseeing a 40% decline in the nation’s gross domestic product for the second quarter and a surge in April’s unemployment rate to 20% with 25 million jobs lost.
In an earlier forecast, they said second-quarter GDP would be down 25%.
The economists, however, continue to see a second-half recovery, based on the assumption that disruptions from the pandemic fade by June. They note that the number of people seeking unemployment benefits has totaled 16.8 million in just three weeks.
With these data in hand we think the April jobs report could indicate about 25 million jobs lost since the March survey week, and an unemployment rate around 20%,” they wrote, “Given the expected hit to hours worked this quarter we now look for -40.0% annualized real GDP growth in 2Q, down from -25.0% previously.”
EU ministers seal deal on half a trillion euro coronavirus rescue plan
European Union finance ministers agreed on Thursday on half-a-trillion euros worth of support for their coronavirus-battered economies after weeks of wrangling that exposed painful divisions in the bloc headed for a steep recession.
EU powerhouse Germany, as well as France, put their feet down to end opposition from the Netherlands over attaching economic conditions to emergency credit for governments weathering the impacts of the pandemic, and after assurances for Italy that the bloc would show solidarity. —Reuters
From here
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ABOUT THE WINELANDS #5 – Interview with Spencer Fondaumiere, National Brand Manager, WARWICK ESTATE
CORONAVIRUS MYTHS BUSTED!
