Economists warn cost of the pandemic is going to get worse as daily death toll soars in the US
Medical workers wait for patients at a special coronavirus intake area at Maimonides Medical Center in the Borough Park section of Brooklyn, New York City, the US, on April 2 2020. Picture: GETTY IMAGES/AFP/SPENCER PLATTThe number of confirmed coronavirus cases around the world has soared past 1-million and deaths have topped 50,000 as the US reported the highest daily death toll of any country so far.
Financial ratings agency Fitch on Thursday predicted that the US and eurozone economies would shrink this quarter by up to 30% as struggling businesses slash investment and unemployment dampens consumer spending. “The data show the curve has stabilised” and the epidemic has entered a “slowdown” phase, Spanish health minister Salvador Illa said.
Severe cases have been reported among teens and young adults, with some requiring intensive care and several deaths, he said.
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