The world’s economic pain is on full display as Europe and the United States are releasing more figures showing just how devastating the impact has been from lockdown measures designed to battle the coronavirus pandemic.
European economy shrank a record 3.8% in the first quarte
No region in the world is being spared. A new report from the Paris-based International Energy Agency projected an unprecedented plunge in the global demand for energy this year that will be equivalent to losing the entire energy demand of India, the world’s third-largest energy consumer. In Sweden, authorities spread stinky chicken manure on a city park in Lund to discourage people from celebrating there on Thursday, a traditionally festive day.
The study, involving 1,063 coronavirus patients, also showed a trend toward fewer deaths among those on the drug, said Dr. Anthony Fauci, the U.S. government’s top infectious diseases expert. The latest figures on Americans applying for unemployment benefits come out Thursday, with economists estimating perhaps 1 in 6 workers, or nearly 30 million people, have lost their jobs over the past six weeks.
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