Text size
The seven-day average number of Covid-19 cases in Israel on Tuesday was less than half the peak in January.
Menahem Kahana / AFP through Getty Images
Israel continues its efforts to vaccinate its population against Covid-19, with more than half of adult Israelis receiving a single dose, and more than a third on two doses get.
The small country leads the world in Covid-19 vaccines, despite growing controversy over its failure to take over the Palestinian population in its constituent regions. In the U.S., by contrast, only 6% of the population has received two doses, according to Bloomberg.
Extensive vaccination promises to restore national economies, as well as save lives. So does it work in Israel?
For now, despite the great progress in vaccines, it is too early to say.
The vaccine appears to be life – saving. The seven-day average of new Covid-19 cases was 3,571 on Tuesday, down from a peak of 8,624 in mid-January, according to the Our World in Data website.
According to Bloomberg, Israel has given one dose to 50.1% of its population, and two doses to 34.7%.
Israeli health ministry data, which has not yet been peer-reviewed but widely reported over the weekend, showed that the
Pfizer
(ticker: PFE) The vaccine was 94% effective in preventing Covid-19 symptomatic diseases, according to the Financial Times, roughly equivalent to how the vaccine performed in clinical trials.
But the latest economic data from Israel shows a country still suffering. That’s because Israeli authorities issued a tight closure at the end of December, the third country. It closed almost all public places and stores, and prevented residents from traveling more than 1,000 meters from their homes, but very little.
The government lifted some of these restrictions on Sunday, reopening stores, museums and malls. People who are fully vaccinated are entitled to a “Green Pass,” which allows them access to gyms, swimming pools and other facilities.
In the meantime, economic indicators remain gloomy. According to the Israeli Bureau of Central Statistics, 18.4% of workers were unemployed in January, according to the organization’s broadest definition, up from 13.2% in December. Movement data from Google published on Feb. 20 indicated that visits to retail and leisure facilities, including restaurants and shopping centers, were still 49% below a baseline established early in 2020.
Israeli investors seem to have confidence, however. The Israeli TA-35 index, the Tel Aviv Stock Exchange benchmark index, up 6.2% from December 21, the day after the Israeli vaccination campaign, surpasses the
S&P 500,
which is up 4.6% over the same period. The
FTSE 100
it is up 1.5% in that period.
Write to Josh Nathan-Kazis at [email protected]