https://www.marketwatch.com/story/the-u-s-economy-is-getting-better-no-its-getting-worse-which-is-it-11602879859
Retail surged 1.9% in September, and consumer sentiment and optimism rose as well. On the flip side, jobless claims actually rose, unlike predictions, mainly from several large corporations announced large layoffs. Not to mention, we are seeing another spike in covid cases. Restaurants are beginning to bounce back and figure out ways to socially distance and still maintain similar levels of revenues. However, with winter and cold weather arriving, restaurants will once again have to adapt, as outdoor seating will not be possible.
There is much uncertainty, from stimulus checks to vaccines to the election, there is a lot that could sway the U.S. economy. I think the data shows conflicting trends, we seem to be growing while also contracting.
So what do you think? Is the economy getting better or worse? and will this trend continue into the future?
I think it has been getting better, but we are getting close to a tipping point where it will begin to fall again. I also think stimulus will help mitigate or prevent the fall. Hopefully the extra stimulus will keep the economy afloat until a vaccine is widely distributed and used.
ReplyDeleteI would agree, seems that overall it has been getting better. But with as many factors that are uncertain right now, it does feel we may be nearing another adjustment in the market.
DeleteI think the economy isn't steady and every day it seems it could change from getting better to getting worse. Jack makes a good point that the winter brings some uncertainty and we can't predict what is going to happen when that time comes. I think there will be a divide between states who are able to stay outside because they don't have weather restrictions.
ReplyDeleteI think that when deciding whether the economy is getting better or worse, it's hard to determine whether it's one or the other mainly due to the coronavirus (and other unsettling events) but also because these events are affect different components of the economy differently.
ReplyDeleteI think that the people are trying to make the economy better, though. They're just doing it in a situation in which they don't have a lot of control. Therefore, I think that trend of the economy growing and then contracting will continue until the world environment settles down (maybe at the end of the year...?).
There is a lot of uncertainty in the economy right now between the election and the pandemic. Hopefully having the election behind us and the promise of vaccines and treatments will lead to greater stability in 2021. There are some promising signs including the stock market and retail sales.
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