⁍ The number of daily new infections has already climbed to near May’s peak of about 1,800.
⁍ Deaths are running at a much lower level as cases become concentrated among younger people.
⁍ Some other countries, including the United States, have opted for targeted shutdowns during a second coronavirus wave.
– Pandemic No. 2 has arrived in Canada, with the country reporting 1,660 new cases of coronavirus on Tuesday, bringing the total to 156,961, reports Reuters. That’s near May’s peak of 1,800 new cases per day, but it’s lower than the peak of nearly 9,000 cases in March and April. As younger people and hospitals gain experience with the disease, deaths are also falling. “We do not anticipate the same kind of economic damage that we saw in March and April,’ says Sal Guatieri, a senior economist at BMO Capital Markets. “There is likely pretty little appetite for renewed shutdowns of the broader economy.” Canada’s economy contracted at a record rate of about 39% in the second quarter, when non-essential businesses were closed. Some other countries, including the US, have opted for targeted shutdowns during a second coronavirus wave. Canadian sectors such as construction and manufacturing are unlikely to face closure. “I don’t think it will be the same this time,” says a senior economist at Desjardins. Quebec, the province hit hardest by the pandemic, said on Monday it will curb social gatherings in homes and limit bar and restaurant service in Montreal, its largest city, and two other regions. Ontario, the nation’s economic engine, also imposed fresh curbs on social gatherings but has refrained from widespread shutdowns. Should more severe limits on gathering sizes and customer-facing services be required, they “would probably be localized to areas experiencing more pronounced outbreaks,” says a senior Canada economist at Capital Economics.
Source: https://www.reuters.com/article/health-coronavirus-canada-economy/covid-19-resurgence-may-clip-canadas-economy-less-than-in-spring-idUSL1N2GP0PR