How last week unfolded amid the pandemic, and the key trends:

• The daily pace of confirmed cases globally (10-day moving average) continued to decline for the 37th consecutive day, approaching the March 6 low.
• The global ratio of recoveries to confirmed cases has been rising for 28 straight days, nearing the March 20 high (32.2%).
• The situation in the US is on a downward trend. Several states have reopened, with others reopening this week.
• In Germany, the situation continues to improve. On Sunday, May 3, new confirmed cases fell to the lowest since March 14 (697), and the recovery rate continued higher to a record 78.8%.
• Based on the dynamics of net cases (10-day moving average), there is broad-based improvement globally — in the US, Germany and Romania.
• In Romania, the recovery rate continues its upward trend, currently at 37%.
• Italy will begin gradually lifting restrictions today, May 4.
• Portugal has lifted the state of emergency.
• France has announced a two-month extension of the state of emergency.

Dr. Andrei Radulescu, Head of Macroeconomic Analysis, Banca Transilvania