Published On: Wed, Aug 26th, 2020

U.S. Economy Confirms Growth

U.S. GDP

The U.S. economy  gained more decorrente da momentum this July, as   wepredicted, as companies  overcome the effects of the slowdown from the pandemic and the closure decreed by cities and states.

It is also worth  mentioning  the  actions of the central government that gave a huge liquidity of the market.

This fantastic improvement,  has not been seen anywhere else in the world See chart below).

Manufacturing

Data released last Friday suggestthat,  U.S. companies are seeing demand return as they reopen from the tax blockades in the spring and early summer. They also indicate that the economy so far has managed to withstand July’s sharp increase in new coronavirus infections and business closures that threatened to take recovery off course.

Data company IHS Markit said its composite index of purchasing managers, a measure of manufacturing and services activity, rose to 54.7 from 50.3*  *in July, a rise from the last 18 months in both sectors.

*A reading above 50 is an expansion signal, while a reading below 50 is a contraction signal.

The manufacturing production index rose to 53.6 from 50.9 in July. The service activity index rose to 54.8 out of 50.

Sales

Rising demand spurred August expansion, IHS Markit said, thanks to customer feedback, new marketing campaigns and easing overseas blockades, which helped boost exports. Survey respondents said they remained optimistic about the next 12 months

Real Estate Market

In a separate report on Friday, the National Association informou of Realtors reported that sales of previous property homes increased 24.7% in July compared to June, driven by low interest rates and people’s desire for more space in their homes..

Jobs

The economy has generated 9 million jobs in the last 3 months reducing the level of unemployment to  about  10%

Automotive sectorico

Car demand has grown 65% in the last 3 months

Financial stock market

The two major indexes  continue to extend their record amid continued hopes of cooling U.S.-China trade relations and resuming the economy. 

As we see, those who bet in favor of developing their business with or across the U.S. are seeing the benefits of this decision.

Carlo Barbieri

About the Author

Discover more from The Boca Raton Tribune

Subscribe now to keep reading and get access to the full archive.

Continue reading