German economy shows signs of recovery; Ryanair sees ‘very strong’ bookings


White House health advisor Dr. Anthony Fauci warned Tuesday the U.S. coronavirus outbreak is “going to be very disturbing” if it continues on its current trajectory. States with surging outbreaks continue to pause and rollback efforts to reopen the economy while others that have found some success in fighting virus, particularly in the Northeast, roll out more domestic travel restrictions to protect their progress. In Europe, nations continue to open borders and lift restrictions as infection rates there trend downward. 

This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. This blog will be updated throughout the day as the news breaks. 

  • Global cases: More than 10.49 million
  • Global deaths: At least 511,851
  • U.S. cases: More than 2.63 million
  • U.S. deaths: At least 127,425

The data above was compiled by Johns Hopkins University.

Germany’s economy showing more signs of recovery

A shopping window of a shoemakers store is seen, during the spread of coronavirus disease (COVID-19) in Berlin, Germany, April 20, 2020.

Axel Schmidt | Reuters

7:23 a.m. ET — Germany has posted several pieces of positive data with retail sales in May, and unemployment data for June, both surprising to the upside.

Retail sales in May rose 13.9% from the previous month, Germany’s federal statistics office said, while the latest unemployment data released by its Labor Office Wednesday showed that the number of people out of work rose by 69,000 in June. That was a far lower number than the 120,000 forecast by analysts polled by Reuters.

Germany’s respected Ifo institute said that it expected the economy to have contracted 11.9% in the second quarter but it forecast growth of 6.9% in the third quarter, and 3.8% in the fourth quarter. —Holly Ellyatt

Ryanair sees ‘very strong’ bookings as Europeans travel more

Ryanair has seen “very strong” bookings through the first two weeks of July, but the company expects ticket prices to remain lower than ever for about 12 months, CEO Michael O’Leary told Reuters.

Ticket prices are unlikely to return to pre-pandemic levels until 2022 or 2023, he said, according to Reuters. He added that he expects the company to fly 4.5 million passengers in July and between 5.5 million and 6 million in August.

O’Leary’s comments come after much of the European Union has lifted border restrictions that were prompted by the coronavirus pandemic and has begun to open to travelers from outside of the blog. Travelers from a list of 15 countries can now travel to the E.U., though the U.S. is not among them. —Will Feuer



Via CNBC