Germany posts a record number of daily cases since the pandemic began

Germany

This fits with what we are seeing with many countries across Europe as well, but it sure isn't good news for the region's biggest economy.

RKI reports another 33 deaths, so that brings the total tally on that front to 9,710 persons.

After the rise of more than 5,000 cases yesterday, German chancellor Merkel and state governors sat down for an eight-hour meeting to introduce tighter restrictions.

Mask wearing will be made obligatory in public places where people are packed closely together in districts where infections hit 35 per 100,000 people. Bars and restaurants in those districts will also be instructed to close early.

Meanwhile, in districts where infections hit 50 per 100,000 people, public and private gatherings should be limited to 10 persons, and bars and restaurants should close at 11pm.

Following the measures yesterday, they made mention that "further targeted restrictions are unavoidable" if the situation worsens further in the coming days.

Once again, as the virus situation continues to escalate, it is likely to weigh on the economic recovery and that doesn't bode well for how the outlook in Q4.