Written by Steven Hansen
The U.S. new coronavirus total death count doubled to 4,928, and the number of confirmed cases today rose over 3,000 to 30,148. Following is a set of interactive graphs and tables for the world and individual states – as well as today’s headlines on coronavirus.
Coronavirus Economic News
The Federal Reserve today announced that its Paycheck Protection Program Liquidity Facility is fully operational and available to provide liquidity to eligible financial institutions, which will help support small businesses. The Small Business Administration’s Paycheck Protection Program, or PPP, guarantees loans extended by qualified lenders to small businesses so that those businesses can keep workers employed. The Federal Reserve’s facility will support the effectiveness of the PPP by extending credit to financial institutions that make PPP loans, using such loans as collateral. Supplying financial institutions with additional liquidity will help increase their capacity to make PPP loans. [link to the program]
The Atlanta Fed’s GDPNow (a running estimate of real GDP growth) for 1Q2020 is -0.3 percent.
According to IHS Markit, US manufacturing output fell 6.3% in March, the steepest drop since 1946. This decline exceeds even the sharpest downturn recorded during the height of the global financial crisis, when the rate of production decline peaked at 3.5%.
The Philly Fed does a monthly survey of business, but given the speed with which the economy is changing, they have launched a weekly survey of businesses in the Third District to track the impacts of the COVID-19 pandemic. Their weekly graph:
Economic Releases Today With Hyperlinks
11 April 2020 Initial Unemployment Claims 5,508,500 This Week
April 2020 Philly Fed Manufacturing Survey Index Now Below Great Recession Lows
March 2020 Residential Building Growth Modestly Affected By Coronavirus
16 April 2020 New York Fed Weekly Economic Index (WEI): Index Now Well Below Great Recession Levels
Coronavirus Charts
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