More than 3.34 million people have been reported to be infected by the novel coronavirus globally and 237,137 have died, according to Reuters tally.
Infections have been reported in more than 210 countries and territories since the first cases were identified in China in December 2019.
– Initial claims for state unemployment benefits totalled a seasonally adjusted 3.839 million for the week ended April 25, the US Labor Department said, while the Commerce Department said consumer spending slumped by a record 7.5% in March.
– Britain’s housing market is grinding to a halt as a result of the government’s coronavirus lockdown, mortgage lender Nationwide said.
– Spain’s GDP will contract 9.2% in 2020, surpassing the fall during the country’s Great Recession of 2008-2013, Economy Minister Nadia Calvino said.
– Japan’s monthly auto sales dropped to a nine-year low in April, industry data showed.
– Irish manufacturing activity suffered its sharpest monthly decline on record in April as output collapsed, while British factory output risks falling by more than half during the current quarter, a trade body said.
– South Korean exports plunged at their sharpest pace since the global financial crisis in April.
– Consumer prices in Japan’s capital city fell for the first time in three years in April and national factory activity slumped, increasing fears that the pandemic could tip the country back into deflation.
– France suffered its sharpest economic contraction since records began in 1949 in the first quarter.
– Democratic Republic of Congo has cut its 2020 economic growth forecast to -1.9% and is expecting its economy to contract, its central bank said.
– Chile’s unemployment rate rose to 8.2% in the first quarter from the same period a year ago, hitting a decade high.