Ed Conway Profile picture
Oct 2, 2020 12 tweets 8 min read Read on X
Belatedly catching up with Test & Trace data from yday. Good news is on most metrics the performance of Pillar 2 tests (the private bit of the testing network) have improved from the previous week.
⬇️Time taken to get a test result
⬇️Distance travelled to get a test
That said, across the whole of pillar 2 in England the percentage of people getting test results within 24 hours of taking a test is still just 17% as of 17-23 Sep (eg last week). That's still a lot lower than earlier this summer as you can see from this chart:
Actually when it comes to test turnaround the one area where test processing/delivery seems to be slowing down is pillar 1, which is primarily hospital labs - the bit of the system that had held up best thus far
The Test & Trace stats also provide us with a more reliable measure of the percentage of positive #COVID19 tests. A useful sense check of the case data we get each day. Consistent with UK continuing to follow French/Spanish trajectory. Let's also see what @ONS data says shortly
Breaking: @ONS survey of #COVID19 infections in England has been released.
This is the best measure we have of the prevalence of the disease.
And the good news is it seems the growth rate has slowed since last week.
Ties in with what we're seeing elsewhere in the case numbers
Important to provisos about the @ONS survey.
It's based on modelling; it can change a lot from week to week.
Even so, the picture painted by today's survey is tentatively reassuring.
The disease is still spreading.
But the rate at which cases are multiplying seems to be slowing
Poss the most reassuring #COVID19 chart in months.
This is @ONS’s measure of daily new #COVID19 cases in England - the best measure of its spread, unaffected by testing shortages.
Look: it’s still spreading but the growth rate has flattened.
Early days, but this is promising…
Few reasons to remain cautious despite slowing in @ONS new cases rate:
1. Data can be choppy from week to week
2. #COVID19 still growing; NB we’re talking about the RATE of growth.
3. On basis of what we’re seeing in France/Spain actually getting new cases to FALL takes time…
Finally, it’s clear from the @ONS survey as well as plenty of other sources (eg @PHE_uk data today) that there are hotspots of the disease where, unlike the national picture, it is still spreading.
This is a dangerous disease.
No cause for complacency.
Keep focusing on the data.
Update: 6,968 new #COVID19 cases in UK in past 24 hours, acc to Gov.uk dashboard.
UK case trajectory remains in line with France/Spain.
Rising - but at a slower rate than previous weeks.
Doubling time for cases currently about 30 days on basis of past week
Some people have asked me whether the daily #COVID19 case figs are reliable. Aren’t they distorted by test availability? Here’s one way of gauging that - comparing them (the red line) to the v reliable @ONS survey (black). Key thing is shape - if it’s similar that’s a good sign.
Key thing in this chart is not the difference in levels but the relative similarity in steepness of the recent rise.
The growth in cases we’ve been hearing abt each day isn’t that different from the @ONS one.
Yes that’s a log scale.
Yes it’s England vs UK.
This is a sense check.

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More from @EdConwaySky

Jul 29
EXCLUSIVE

👗Billions of pounds of imports...
↗️Rising by more than 50% a year...
🛬Planes stuffed with cheap clothes...
🇨🇳And a loophole saving Chinese companies from £billions of UK taxes.

Behind the scenes of one of the biggest stories in the modern economy: e-commerce
👇
We've spent months investigating this phenomenon.
- We've got the first official estimate of the scale of cheap untaxed imports into the UK.
- We've seen inside the planes carrying these goods here.
- A whole logistics industry is growing around it.
This is a v big deal! Image
The story begins with a MASSIVE rise in orders from Chinese e-commerce giants like SHEIN and Temu.
Now, most coverage of these brands focuses on labour standards. An important issue.
But there's something else going on here - something deeper.
A shift in how trade works... Image
Image
Image
Read 25 tweets
Jun 18
🧵Some thoughts re inflation.
Not the data today, but two deep issues we should prob spend more time thinking about.
1. While economists and policymakers may have convinced themselves that the cost of living squeeze is over, for millions of households, it doesn't feel that way.
The key thing to remember here is that when economists talk about inflation what they're really talking about is the ANNUAL RATE at which a basket of goods and services changes price. And certainly, that rate is much lower than the 2022 peaks... Image
But, as I say, what that number is is simply looking at the difference in the LEVEL of prices over the past year. This chart is that level. (The actual consumer price index!).
And yes, look over the year to May and it's up 3.4%. Image
Read 9 tweets
Jun 12
🧵Why, barely 24 hours after the Spending Review, is everyone already going on about tax rises?
Are they REALLY coming?
Or is this an "incoherent argument", as one leading minister calls it?
Well here's a thread explaining what's really going on here.
Bear with me...
First things first.
Key thing to remember is that the main job of HMT is to generate enough money, mostly via taxes (left hand bar here), to finance all its spending (right hand bar).
If that left hand bar isn't high enough, we have to borrow to fill the gap.
That's the deficit! Image
This week's Spending Review was about the right hand column, obvs. But not ALL of the column.
Actually more than half of govt spending is on stuff that WASN'T covered by the spending review - on benefits, debt interest, pensions etc. It's called "annually managed expenditure"Image
Read 17 tweets
May 28
🧵
You may recall a spate of stories a few years ago about appalling working conditions & abysmally low pay in Leicester's clothes factories.
The hope was those stories would shame businesses into improving working conditions.
But here's what ACTUALLY happened next...
👇
Instead of staying in Leicester, most brands abandoned it & shifted production to N Africa & S Asia.
Today Britain's biggest centre of textile & apparel manufacture is battling the threat of extinction.
It's a mostly untold economic story we've spent recent months documenting Image
Once upon a time Leicester was the beating heart of UK clothes manufacturing.
The city was dotted with factories making clothes for big name brands.
Now, according to one estimate, the number of clothes factories has dropped from 1500 in 2017 to under 100 this year. A 95% fall. Image
Read 16 tweets
May 8
How big a deal is the new trade agreement unveiled between the US and the UK? Here are some initial thoughts.
Start with this: this is total UK exports to the US over the past 5yrs: £273bn. Right now most of this will face a 10% tariff. Some things (eg cars) face 25% extra Image
Let's break down that total. The biggest chunk is cars. Just under £30bn. That's covered under the agreement. So too are steel/aluminium exports. Much smaller at £2.7bn...
These sectors will benefit from special deals (though much of the detail still remains vague). Image
Image
Rolls Royce will apparently get tariff free access for its jet engines. That mostly helps Boeing, but also Rolls Royce. Jet engines comprise a surprisingly large chunk of UK exports to the US, about £17.3bn. So let's shade that red too... Image
Read 9 tweets
Mar 27
🚨
The Chinese owners of British Steel say they are now considering shutting their blast furnaces and end steelmaking at Scunthorpe in early June - only a few months away.
It would mean an end of virgin steelmaking in the country that invented it during the industrial revolution
British Steel say the main question now is timing: whether the operations will close in June, in September or later.
It says tariffs are one of the reasons the blast furnaces are "no longer financially sustainable".
Press release 👇 Image
The news means @jreynoldsMP faces two interlocking crises in the coming months:
1. The imposition of US tariffs on an ever growing segment of British exports
2. The end of virgin steelmaking (the UK would be the first G7 country to face this watershed moment).
This is big stuff
Read 5 tweets

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