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US consumer rebound some way off

Friday, October 09, 2020

The US economy does not seem to be powering back to full employment despite the claims from the President and Mike Pence in the vice presidential debate on 7 October of such a scenario unfolding. According to the most recent US unemployment claims, which show 840,000 people signed up in the last week for unemployment insurance, this was slightly lower than the revised figure of the week before of 849,000 and shows the job market remains depressed. This all suggests that any consumer led bounce back to encourage a V shaped recovery is still some way off.

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