The United States will not be able to process to meet demand

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This is CNBC’s live blog covering all the latest news on the coronavirus epidemic. All times below are Eastern Time. This blog will be updated throughout the day as news becomes available.

  • Global cases: more than 1,490,790
  • Deaths worldwide: at least 88,982
  • Cases in the United States: more than 432,438
  • Deaths in the United States: at least 14,808

The above data was compiled by Johns Hopkins University.

8:12 a.m .: British leader Boris Johnson “continues to improve” after a third night in intensive care

Prime Minister Boris Johnson “continues to improve,” said his spokesman, after spending a third night in coronavirus intensive care.

Speaking to reporters, the spokesman also said that Johnson had a good night and was “in a good mood”. The Prime Minister, who is currently at St. Thomas Hospital in London, has received “standard oxygen treatment”, indicating that he is not on a ventilator.

Culture Minister Oliver Dowden previously commented on Johnson’s health, telling the BBC that Johnson is “stable, improving, sat down and engaged with medical staff,” adding: “I think things are getting better for him.” —Holly Ellyatt

8:06 a.m .: Poland and Finland extend restrictions on public life

Poland and Finland each announced an extension of the national restrictions, extending the closings until May.

Polish borders will remain closed until May 3 and the government will extend the lockdown of schools and businesses, said Polish Prime Minister Mateusz Morawiecki.

Businesses will remain closed until April 19 and limits for schools, as well as rail and air transportation, will be extended by two weeks, he said. Poles have also been asked to cover their mouths and noses from Thursday next week, when the government is also expected to publish a “return to a new economic reality” schedule.

The Finnish government has confirmed that it is extending most of its restrictions by a month.

The extension to May 13 was expected after a previous statement in late March that the government would extend its ban on public meetings of more than 10 people and the closure of public services such as schools for most students.

The restaurants, which have been closed since April 4, will also remain closed until the end of May, excluding take-out. However, the government plans to lift restrictions on non-essential traffic to and from the Uusimaa region around the Finnish capital Helsinki. —Reuters with contribution from CNBC

8:04 a.m .: IMF chief says pandemic will trigger worst recession since the Great Depression

The pandemic sweeping the world will make global economic growth “strongly negative” in 2020, triggering the worst fallout since the Great Depression of the 1930s, with only a partial recovery observed in 2021, said the head of the International Monetary Fund.

IMF Managing Director Kristalina Georgieva painted a much darker picture of the social and economic impact of the new coronavirus than just a few weeks ago, noting that governments had already taken 8% fiscal stimulus trillion dollars, but probably more.

She said the crisis would hit emerging markets and developing countries harder, which would then require hundreds of billions of dollars in foreign aid. —Reuters

7:12 am: Former FDA chief: United States will not have the capacity to produce COVID-19 on a large scale

US may have effective drug to treat coronavirus by fall, said former Food and Drug Administration commissioner Scott Gottlieb, but US will not have the production capacity to produce enough to meet demand.

“We could have an effective drug in the fall,” he said. “But we are not going to have the capacity to produce it on a large scale to give it to the millions of people who may be entitled to it, who may need it. ” —Will Feuer

Disclosure: Scott Gottlieb is a CNBC contributor and is a member of the boards of directors of Pfizer and the biotechnology company Illumina.

7:01 am: Bill Gates says U.S. may reopen in late May

Bill Gates thinks the United States could start reopening the economy in late May, he said in an interview with CNBC’s Becky Quick. Before a vaccine becomes available, he said, countries that have experienced significant epidemics must determine which activities should resume. He suggested that people could probably return to jobs in manufacturing and construction and, hopefully, education.

“I don’t think participating in big public-type sporting events, for example, is the economic benefit of risk, which will work until we return to normal,” he said.

Gates said Chinese companies are coming back to life and activities are returning to South Korea, one of the first countries to face an outbreak of coronavirus. He also suggested that the economy would not magically return to the situation before the pandemic, even after governments decided it was prudent to return to work. —Matt Rosoff, Jordan Novet

6:15 a.m .: Iranian death toll rises from 117 to 4,110

Iranian health ministry spokesman Kianush Jahanpur said the death toll in the country had increased from 117 to 4,110, according to Reuters. The total number of infections reached 66,220, he said. —Holly Ellyatt

5:40 a.m .: daily deaths in Spain are decreasing; death toll exceeds 15,000

The number of daily coronavirus deaths in Spain has slowed after two days of increase. The Spanish health ministry said 683 people died of the virus in 24 hours, bringing the death toll to 15,238.

The total number of confirmed cases has now increased from 146,690 to 152,446. —Holly Ellyatt

4:50 am: British leader Boris Johnson says he “gets better” as he spends a third night in intensive care

Prime Minister Boris Johnson spent a third night in intensive care in a London hospital after being admitted for persistent symptoms of coronavirus, although his condition is improving.

Culture Minister Oliver Dowden is the latest UK legislator to comment on Johnson’s condition, telling the BBC on Thursday morning that the Prime Minister is “stable, getting better, sat down and engaged with medical staff, “adding,” I think things are getting better for them. “

Johnson receives “excellent care” at London’s St. Thomas Hospital where he is treated, Finance Minister Rishi Sunak said at the government’s press conference on Wednesday afternoon. —Holly Ellyatt

4:20 a.m .: Russian cases exceed 10,000

A police officer at the Iberian gate in a deserted red square during the pandemic of the new coronavirus (COVID-19).

Valery Sharifulin

Russia reported a record day-over-day increase of 1,459 new cases of coronavirus, bringing the total number of confirmed cases to 10,131.

The number of coronavirus-related deaths has increased from 13 to 76, the national coronavirus crisis response center said, adding that it had carried out 1 million tests. —Holly Ellyatt

Read CNBC coverage by CNBC Asia-Pacific and Europe teams overnight here: The number of cases in Russia exceeds 10,000; Italy could ease foreclosure soon

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