The Toronto-Dominion Bank and its affiliates and related entities that comprise the TD Bank Group are not liable for any errors or omissions in the information, analysis or views contained in this report, or for any loss or damage suffered. The actual outcome may be materially different. These are based on certain assumptions and other factors, and are subject to inherent risks and uncertainties. This report contains economic analysis and views, including about future economic and financial markets performance. The information contained in this report has been drawn from sources believed to be reliable, but is not guaranteed to be accurate or complete. The report does not provide material information about the business and affairs of TD Bank Group and the members of TD Economics are not spokespersons for TD Bank Group with respect to its business and affairs. This material is not intended to be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities and should not be considered specific legal, investment or tax advice. The views and opinions expressed may change at any time based on market or other conditions and may not come to pass. It is for informational and educational purposes only as of the date of writing, and may not be appropriate for other purposes. Governments of several AEs have rolled out booster shots and are enacting measures to increase vaccine uptake. They have rebounded in recent weeks but remain below levels seen late last year.
Measures of social mobility fell across AEs at the outset of the surge. The resurgent virus has led to backtracking in economic normalcy. The U.S.’s lower vaccination rate appears to be contributing to its higher death rate relative to other AEs. Fortunately, the Omicron variant appears to cause less severe illness than prior variants, which alongside vaccinations, has resulted in lower death rates relative to cases. pillars of action defined by the ILO to lessen the impact of COVID-19 on businesses. As the number of cases reported hit all-time highs, hospitalization rates also moved higher, putting a strain on health care systems. France stands out in the sheer number of cases per capita, while Germany still appears to be on the upswing. Advanced EconomiesĪfter spiking to unprecedented levels across most advanced economies (AEs), COVID-19 cases appear to have crested, with notable reductions apparent in the UK and Canada. Note: This publication will be updated periodically to reflect changes in the global economy. This collection of charts should help guide readers through the various aspects of the crisis and recovery in advanced economies, emerging markets, and North America, as well as within the service industry, commodity markets and financial markets. To bridge this gap we use available high frequency data to assess the real-time economic implications of COVID-19. What is more, the unprecedented nature of this crisis means that we cannot rely on past crises to benchmark economic forecasts. Developments on the health and economic front are moving faster than the frequency at which most conventional economic data are released. COVID-19 has posed a unique shock to the global economy.
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