Post-COVID economy's potential hinges on next few weeks
As the COVID-19 pandemic stretches into its 10th month in the U.S., its lasting effects on the economy — from more companies embracing remote work to more consumers embracing last-mile delivery — are not going away, according to economist Bob Dieli of MacKay & Co. As coronavirus cases surge again, what happens over the next several weeks will tell the tale of what the 2021 U.S. economy will look like.
Just as major drug manufacturers announced recent successes in developing a coronavirus vaccine, the reopening rebound of the COVID-19 recession is coming to an end. This is creating some uncertainty for the winter months.
The U.S. economy appears to be on the edge of another slowdown as the virus surges across much of the country and more states are eyeing lockdowns similar to the spring phase that led to the pandemic recession. “I think we are definitely in for some type of pause over the next several months — how long and how deep, I think, remains to be seen,” Dieli said during a Heavy Duty Manufacturers Association (HDMA) Pulse Series webinar on Nov. 18.
With the vaccine on the horizon, John Blodgett, VP of MacKay & Co., said to expect an uneven 2021. “We've got a vaccine on the way, so our concern has been the first half of the year,” he said during the same HDMA event. “At least the first quarter is not going to be as good as the rest of the year is. But at least things look a little bit more positive from that standpoint.”
Read more here: https://www.trucker.com/covid-19-coverage/article/21148693/postcovid-economy-potential-hinges-on-next-few-weeks
Posted Date : November 30 2020
