Despite the resurgent virus in developing economies, developed countries are making solid vaccine strides, via Goldman:
Vaccinations outperformed our forecasts across all DMs in April apart from theUS. Supply will accelerate further in May, largely thanks to Pfizer-BioNTech, but also increasing capacity from other producers, and Novavax approval in the UK.
The daily pace of US vaccinations has fallen from roughly 3.4mn doses per day(7DMA) to 2.2mn as a result of binding demand. We expect the average pace tofall further to 1.7mn shots in May and to 1.1mn in June.
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David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
