UPDATED | IMF Global Growth Projections

We’re returning this week to the topic of COVID-19 as we watch the data trending upward to now more than triple the new daily case figures that were reported back in April when the virus had taken hold nearly worldwide. The total number of confirmed COVID-19 cases has breached [40 million+]( globally, led by the United States, where 8.6 million people have fallen ill, and India, with 7.9 million total cases. So for this issue we set aside other major data stories to focus on this - COVID-19. Read on to learn about how the virus has affected the 2020 global economic outlook, government spending, employment opportunities in academia, and potentially even crime in major US cities. As always, you can track all regular COVID statistics and our full collection of coverage from public and alternative data sources at Knoema.com. Get involved! Send us your feedback at [DataDriven@knoema.com](mailto:datadriven@knoema.com). From the Headlines New Data at Knoema COVID-19 in Russia: The Russian Government may have garnered attention on the COVID-19 vaccine front, but [Moscow]( remains victim to the virus as do regions across [Russia]( as new daily cases reported continue to climb. US COVID-19 Programs Funding: California received the highest amount of COVID-19 related funding—just over [$242 billion]( the Federal Government to date followed by New York ($139 billion) and Texas ($129 billion). Spain Tourism: Foreign tourist arrivals declined 75.8% YoY to [2.4 million]( in August, a blow to Spain's economy given that tourism accounts for about 12% of the country’s GDP. Data Driven Stories According to preliminary data from the FBI, reported violent and property crimes for the first six months of 2020 have decreased compared to the first six months of 2019. While total crime also decreased in some metro areas as COVID took hold nationwide, the reduction was mainly due to fewer reported crimes, such as larceny, burglary, robbery, and auto theft, the most common criminal offenses. [Read more]( IMF economists are eyeing late 2020 more optimistically than they did in June on the basis of better-than anticipated 2Q 2020 GDP results. [Read more]( Interested in what Knoema can do for your organization? [Get on a call]( Insights Around the Web [Science Magazine]( Amidst lower enrollment and revenue, US educational institutions have decreased faculty job openings by 70% so far during the 2020-21 academic cycle. [NBER]( 85% of US recipients of the initial $2.2 trillion in stimulus checks tended to use those payments to bolster their savings or pay down debt. Only 15% spent the funds, and, even then, reported spending only approximately 40% of the stimulus funds. [World Bank]( COVID-19 is expected to set back progress toward ending extreme poverty by at least three years. An estimated 110 million to 150 million people could fall back into extreme poverty in 2020-2021 as a result of the pandemic. [The Economist]( A new era is dawning for capital markets: Conventional banks now account for only 72% of the total market value of the global banking and payments industry, down from 96% a decade ago. Fintech firms such as Ant Group and PayPal along with conventional non-bank payments firms such as Visa make up 11% and 17% of the industry total respectively. Stay well. Charles Poliacof CEO, Knoema [knoema.com]( [Twitter]( [Facebook]( [Website]( Copyright © 2020 Knoema. All rights reserved. You are receiving this email because you are a registered Knoema user. Our mailing address is: Knoema 31 East 32nd Street 4th FloorNew York, NY 10016 [Add us to your address book]( Want to change how you receive these emails? You can [update your preferences]( or [unsubscribe from this list](.