The downward trend in new daily COVID-19 cases continues. Improving conditions are leading to rollbacks of restrictions, and economic activity and employment should improve as a result. For now, traditional jobless claims are seeing gradual declines, but pandemic assistance claims are growing, and 20.4 million people remain on some form of benefits. Joblessness remains high: … Continued
Our Chief Economist Jonathan Smoke joins us once again from his home studio in Atlanta, GA, with the latest on the impacts of COVID-19 on the automotive industry. The latest on COVID-19’s nationwide impact Continuing jobless claims and impacts by state Consumer sentiment in the U.S. and in the largest DMAs Cox Automotive consumer survey … Continued
The downward trend in new daily COVID-19 cases continues. Improving conditions are leading to rollbacks of restrictions. Economic activity and employment should improve as a result. Job gains small: January only saw meager gains in jobs, but the declining trend in jobless claims affirm that January likely represented the transition from the worst of the … Continued
Our Chief Economist Jonathan Smoke joins us once again from his home studio in Atlanta, GA, with the latest on the impacts of COVID-19 on the automotive industry. The latest on COVID-19’s nationwide impact Continuing jobless claims and impacts by state Consumer sentiment in the U.S. and in the largest DMAs Cox Automotive consumer survey … Continued
The downward trend in new daily COVID-19 cases continues, but new variants are raising concerns. The economy grew in the fourth quarter. Consumer spending slowed, savings grew, and consumer confidence improved. Economy grows: The first estimate of fourth quarter 2020 real GDP growth came in at 4.0% (annualized), less than the 4.2% expected. Based on … Continued
Little new information emerged from the Fed today as they issued their official statement following their first meeting of 2021. The biggest change in the official statement was acknowledging that “… the pace of the recovery in economic activity and employment has moderated in recent months.” The Fed is clearly staying on course with its … Continued
Our Chief Economist Jonathan Smoke joins us once again from his home studio in Atlanta, GA, with the latest on the impacts of COVID-19 on the automotive industry. The latest on COVID-19’s nationwide impact Continuing jobless claims and impacts by state Consumer sentiment in the U.S. and in the largest DMAs Cox Automotive consumer survey … Continued
The downward trend in new daily COVID-19 cases continues. Hospitalizations and deaths are on the decline as well. The pandemic risk remains at the highest level for much of the country, but conditions should improve as the month ends. On the economic side, joblessness remains high but is not continuing to rise, consumer sentiment rose … Continued
Our Chief Economist Jonathan Smoke joins us once again from his home studio in Atlanta, GA, with the latest on the impacts of COVID-19 on the automotive industry. The latest on COVID-19’s nationwide impact Continuing jobless claims and impacts by state Consumer sentiment in the U.S. and in the largest DMAs Cox Automotive consumer survey … Continued
We are now seeing a downward trend in new daily COVID-19 cases. The pandemic risk remains at the highest level for much of the country, but conditions should improve in coming weeks. The trailing data on jobless claims is tracking the rising COVID-19 case trend. Job losses for the week ending Jan. 9 were the … Continued