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Economic Recovery Continues in the US, Cautiously

Posted Tuesday, September 22, 2020 by
Skerdian Meta • 1 min read

The USD fell through the cracks since March, when the coronavirus pandemic broke out int Europe and the US. The US economy took a major hit, as did most major economies around the globe. But it started recovering in May after the reopening and has been picking up pace since then.

The Eurozone economy is showing signs of slowing down considerably while the US is still picking up speed, as we mentioned, but the situation is still cautious with protests and everything going on. Philadelphia FED non-manufacturing report was released earlier, showing exactly that.

Lower level economic data from the Philly Fed

  • Wage and benefit cost index +13.1 vs +14.6 prior
  • Firm-level business activity +20.4 vs +17.9 prior
  • New orders +8.5 vs +11.6 prior
  • Full time employment +5.1 vs -3.0 prior
There is no stall out here and even the dip in new orders leaves it at a healthy level. So, there is caution, but the economic recovery is still going strong  with full time employment coming back to positive territory.
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