This site uses cookies

To give you the best possible experience, the GAM website uses cookies. You can read full information of our cookie use here. Your privacy is important to us and we encourage you to read our privacy policy here.

False 5e486c79-17d0-4e77-bbdf-81e2b81c8108

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.

Important legal information
The information in this document is given for information purposes only and does not qualify as investment advice. Opinions and assessments contained in this document may change and reflect the point of view of GAM in the current economic environment. No liability shall be accepted for the accuracy and completeness of the information. Past performance is no indicator for the current or future development.