(WASHINGTON EXAMINER) -- The coronavirus pandemic is showing signs of stabilization even as economic indicators are just beginning to reveal the magnitude of its damage to commerce.
Total global coronavirus cases have surpassed 2,020,000, but the rate of increase in cases has started to stabilize, according to Johns Hopkins University data. Daily growth is slowing down, and the number of new cases daily has declined considerably over the past week. Italy and Spain have counted fewer new cases each day since last week, and daily growth rates in the United States have hovered around 28,000 since Saturday.
Though the outbreak may be close to leveling off, the economy will continue to suffer for months to come. Wednesday saw the release of the first batch of economic indicators to register the full blow of the pandemic shutdowns.
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