Consumer Spending and Labor Market Momentum Face Bumpy Outlook as Pandemic Resurgence Stalls Reopening

Despite reopening providing a momentary jolt, the economy remains fragile in the face of an uncertain path forward. Consumer confidence grew dramatically in June, providing many industries with a boost in spending. Stalled reopening in many regions has curbed this momentum and, in some industries, slowed recovery. Job growth in May and June was an encouraging sign, but as reopening ebbs, many worry that their temporary furloughs may become permanent.

Key Features:

• Analysis of recent consumer confidence indicators in the face of stalled re-opening.

• Breakdown of momentum and volume by industry.

• Overview of job growth by sector and the necessity of limiting permanent layoffs.