Retailers pushed imports of consumer goods to a record as they stocked up for the Christmas holiday season..
“The economy will bounce back strongly in [Q2] as vaccine deployment reaches critical mass but until then it’s going to be a long, bleak winter."
The continued improvement in the key measure of U.S. business investment suggests manufacturers are optimistic about a return to normalcy next year.
The housing market’s “momentum could slow amid a resurgence in new COVID-19 infections that is putting strain on the economic recovery.”
“It looks like consumer spending is increasingly turning into a headwind for this recovery from the worst economic downturn since the Great Depression."
Economists are sticking to estimates of only 4% growth in the fourth quarter and a prolonged recovery from the coronavirus recession.
WeChat users who sued the Trump administration had “shown serious questions going to the merits of their First Amendment claim," the court said.
"The explosion of COVID-19 infections ... is casting doubt on the magnitude of the expected surge in third-quarter consumer spending."
“It’s a very deep and dark hole and we’re coming out of it, but it’ going to take a long time to get out.”
“The sugar rush from re-openings has now faded and a resurgence of domestic coronavirus cases ... will weigh heavily on business investment."
“With a staggering 32 million Americans collecting unemployment checks and lumber prices at a two-year high, a robust housing market is unlikely.”
"While this recession didn't start with a capital spending slump, the weakness in investment spending could take a long time to dissipate."
