All Posts Tagged: pandemic
September Retail Sales Come Roaring Back
Retail sales increased 1.9% in September, a far stronger pace than economists expected, given tens of millions of Americans remain out of work and supplemental unemployment benefits of $600 a week began to disappear at the end of July.
Read More ›A Fragile Manufacturing Recovery
With the onset of the pandemic, the manufacturing and service sectors were both hit incredibly hard. According to the Federal Reserve, U.S. manufacturing production declined at a 47% annualized rate in the second quarter, while the latest GDP report revealed an unprecedented 43.1% annualized decline in real consumer spending on consumer services in the second quarter.
Read More ›Financial Stability Concerns On The Rise
The most sobering section of the July Federal Open Market Committee Minutes, for me, was the description and discussion on financial system stability.
Read More ›Labor Market Shows Signs of Life in May
The May Employment Report released this morning from the Bureau of Labor Statistics captured more of the economic reopening than we expected, allowing for a surprising 2.51 million gain in nonfarm payrolls and a drop in the unemployment rate to 13.3% from 14.7% in April.
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