The below charts show some interesting data on the Covid-19 vaccine rollout programme.
Here in the UK, the NHS has had one of the most successful vaccine rollouts in history.
As of this week, nearly 90% of the population aged 16 or over have had their first vaccine, with 75% also having their second vaccine.
As you can see from the first chart, we are only second in the world behind Spain in terms of our rollout.
Fund managers, Brooks Macdonald, commented on 20/08/2021, ‘In low-income populations, you see a very low level of vaccine penetration, only 1.1%. Vaccine inequality is likely to persist.’
Comment from People and Business IFA
You can see that the vaccine roll out is key to how an economy might perform as it tries to re-open. The age range fully vaccinated is important, as this impacts on the number of hospitalisations and deaths.
The chart above is showing a steep increase in hospitalisations in the US. In turn it looks like the death rate in the US is starting to rise too. Why is this? It looks like it’s a political issue, with a huge divide between states, the Republicans have vaccine hesitancy.
With the lower take up rates of vaccines by both the elderly and the vulnerable in Republican states this is pushing up the hospitalisation rates now.
In Emerging Markets, the low rates of vaccination are creating supply chain issues. You will have seen this covered in the media with the shortage of microchips slowing down automotive production globally.
The good news is that economies are recovering, inflation does appear to be transitory and both Central Banks and governments remain supportive for now. We face headwinds, known and unknown, but if you would have asked me in March/April 2020 where we would be now this would have been the best outcome for markets and economies.
Steve Speed
27/08/2021