July 6, 2020

ALMOST LIKE AMERICANS WON'T DIE FOR IDEOLOGY:

States that rushed to reopen damaged their economies -- just as experts warned (Josh Israel, June 29, 2020, American Independent)

According to economists with Nomura, a financial services company, "high frequency data on service sector activity suggests businesses and consumers may already be responding to the surge in new cases," Axios reported on Monday. The same report cited a Deutsche Bank analysis that found "states with faster case growth are now underperforming economically based on measures of small business activity, restaurant bookings and consumer spending."

CBS News last week reported that economic growth was stalling in states with surges of coronavirus cases. The network quoted economist Ian Shepherdson of the research consultant firm Pantheon Macroeconomics: "More people are staying home as cases soar, and small firms are shedding jobs."

CBS said that data released by small-business scheduling software company Homebase shows that hours worked by leisure and hospitality employees "increased until mid-June but have now stalled" in places where rising infection rates combine with consumer fears of lax social distancing and face cover use.

Posted by at July 6, 2020 12:00 AM

  

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