For most of the countries near the top, the spike in cases has occurred fairly rapidly over the last couple of weeks. The exception is the UK where cases have been high and steady since the summer as high vaccination rates plus high infection rates have seemingly provided some degree of herd immunity. It’s important to bear in mind that testing rates vary considerably (the UK does the most per person in the G7) and that can affect the relative rankings, but the overall trend higher is clear.
The news is hitting European markets hard this morning as fears mount that the virus and restrictions will spread across the continent again. However the curveball might be the US. DB’s Robin Winkler has been pointing out that the vaccination rate in Austria (64%) is somewhat lower than the likes of Spain (79%), Italy (74%), France (69%), the UK (69%) and Germany (68%) but it is still higher than the US (58%).
So although all the headlines are in Europe at the moment, will the US be more vulnerable than many European countries over the course of the full winter? Recent history suggests the US have a higher bar for economic restrictions related to covid but it also has a lower vaccination rate than their European peers.
Source : https://www.theguardian.com/business/live/2021/nov/19/retail-sales-uk-consumer-confidence-inflation-christmas-stock-markets-ftse-business-live?page=with:block-6197aebf8f08a29130806303216