Business Conditions

“Small-business confidence was unchanged in October, but details of the survey suggest a mixed outlook.” – Robert Hughes

“Private payrolls added 906,000 in October, but ongoing restrictions and a large number of unemployed suggest the recovery remains highly uncertain.” – Robert Hughes

“Initial claims for unemployment benefits fell slightly and remained below 800,000 for a third week, but risks to the recovery remain.” – Robert Hughes

“Auto sales fell slightly in October but stayed at the lower end of the historical range.” – Robert Hughes

“The services sector expanded again in October, but employment remains weak. Renewed lockdowns and restrictions remain a threat to future growth.” – Robert Hughes

“The ISM Manufacturing survey suggests the sector is recovering strongly from government lockdowns, though some recent strength may be related to stockpiling ahead of potential new lockdowns.” – Robert Hughes

“Consumer sentiment remains well below pre-pandemic levels with Covid-19 and extreme political partisanship the main reasons. The economic outlook remains highly uncertain.” – Robert Hughes

“The U.S. economy posted historic growth in the third quarter but remains below pre-pandemic levels. Uncertainty over policies and the upcoming election is keeping risks elevated.” – Robert Hughes

“Initial claims for unemployment benefits remained below 800,000 for a second week but doubts about the recovery continue.” – Robert Hughes

“Manufacturers’ new orders for durable goods rose in September, but growth is uneven across the various sectors and industries of the economy.” – Robert Hughes