As the US is well underway in lifting restrictions and reopening its economy, the number of coronavirus infections have been surging over the last several weeks. According to data compiled by John Hopkins University, the country’s seven day average number of new daily coronavirus cases has increased by over 30% since the previous week, with Monday’s tally increasing by 31,000 new cases alone.
States such as Arizona, Texas and California have been the most prominent with lifting restrictions and lockdown measures, and as a result have been reporting some of the most dramatic spikes in COVID-19 cases. Arizona had an average of 2,500 new cases as of Monday, which translates to an increase of about 94% when compared to the week prior. In the meantime, new coronavirus cases increased by 4,846 in Texas, with a whooping 100% increase since the previous week. The State of California added another 6,219 new cases at the beginning of this week, which accounts for a 32% increase compared to the previous week.
In terms of hospitalizations, which are an important measure for gauging the severity of outbreaks, the State of Texas has seen a 43% increase since the week prior. As of Monday, there were 3,110 total COVID-19 patients hospitalized based on a seven-day moving average. Texas was among the first states to reopen its economy, with Gov. Greg Abbott initially defending his position for allowing restaurants, bars, and gyms to reopen as early as mid-May. Now however, Abbott may have to face the consequences of his reopening plan, and revert back to previous infection-mitigating measures.
Information for this briefing was found via CNBC and John Hopkins University. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.