I've come to think of the growth rate of new cases as a sort of proxy for R naught. That obviously depends on the testing regimen being fairly stable. If it is not, then obviously changes in testing prevalence will bias the numbers.
Anyhow, here is the ratio of new cases over the past seven days to new cases over the prior seven days for a sample of countries
Italy 0.85
Spain 0.77
Germany 0.62
UK 0.98
France 0.68
Sweden 1.10
Canada 0.99
USA 0.93
The way I think of this, the lower the number the less risk (bigger margin of error if things go badly) from reopening economic and social activities and relaxing social distancing.
Other things can also reduce risk: more testing (including for antibodies), a vigorous tracing program, excess medical care capacity. These factors should also enter in assessing whether a country is "ready" to relax some of the measures introduced to reduce the spread of the virus.
If you are pursuing a different strategy (building up herd immunity) then a different set of considerations apply.