Business Conditions

“Retail sales fell in November as recent developments regarding Covid-19 and reactionary government policies remain significant risks to economic recovery.” – Robert Hughes

“Manufacturing continued to recover in November, but reinstated government restrictions could threaten future growth.” – Robert Hughes

“Consumer sentiment surprised on the upside in early December, but renewed government restrictions may drag the economy down in coming months. The outlook remains highly tenuous.” – Robert Hughes

“Initial claims for unemployment benefits rose again, sustaining doubts about the durability of the recovery.” – Robert Hughes

“Job openings and layoffs both rose in October, suggesting a mixed picture for the labor market. With new restrictions on the rise, the outlook remains highly uncertain.” – Robert Hughes

“Slow consumer credit growth may be a positive for consumers, though weakness in the labor market and increasing restrictions on economic activity are threats to the outlook.” – Robert Hughes

“Private payroll gains slowed sharply in November and renewed restrictions on consumers and businesses increase the probability of more weakness in coming months.” – Robert Hughes

“The services sector expanded again in November, but renewed lockdowns and restrictions remain a threat to future growth.” – Robert Hughes

“Initial claims for unemployment benefits fell in the latest week but renewed restrictions on businesses and consumers may start to push claims up again in coming weeks and months.” – Robert Hughes

“The ISM Manufacturing survey suggests continuing recovery from government lockdowns, though reconfigured factories, shutdowns to sanitize, and labor difficulties are challenges.” – Robert Hughes