Economy

BMO Reports U.S. Post-Pandemic Economic Prospects by Sector

As the U.S. works to recover from COVID-19, some industries will rebound quickly as distancing measures lighten, reports BMO Economics. read more

ACT: U.S. Economy Improves in April, CV Industry Looking Toward Recovery

ACT Research data showed improvements in the state of the economy with reopenings since late April representing the first steps toward economic recovery. read more

ABI: Nearly 500 Small Businesses File for Bankruptcy Under Subchapter V Provision

ABI statistics showed that 471 small businesses have elected to file for bankruptcy relief under the new Subchapter V to Chapter 11 of the Bankruptcy Code since it was enacted.  read more

Wells Fargo Expects Deep But Short Recession, Recovery in H2/20

According to the Wells Fargo Investment Institute’s 2020 midyear outlook, there will be a deep but short recession and a gradual U.S. economic recovery beginning in the second half of 2020. read more

April Small Business Lending Index Craters as Firms Turn to PPP

The PayNet Small Business Lending Index fell 14.4 points, or 11.8%, to 107.4 in April and is now 32% below its year-ago level, potentially suggesting that small businesses are substituting traditional lending with Paycheck Protection Program loans. read more

KBRA COVID-19 Research: Can Credit Hold Ground with U.S. ‘Spiraling Out of Control?’

This KBRA report examines the dramatic tightening in most credit spreads in the face of a still unfolding pandemic, deep economic recession and an uncertain political landscape. read more

Fed Improves Main Street Lending Program Terms to Support Employment

The Wall Street Journal reported that the Federal Reserve has made several adjustments to the Main Street Lending Program to attract more SMEs. read more

U.S. Economy Gains 2.5MM Jobs in May Signaling Recovery in Underway

According to the Bureau of Labor Statistics, the U.S. economy gained 2.5 million jobs in May, more than twice the previous record for a monthly gain of 1.1 million jobs, which was set in September 1983.  read more

Moody’s Analytics: COVID-19 Resurgence Could Cause Global Economic Depression

Moody’s Analytics baseline economic forecast reports that real global GDP will fall by 4.5% this year as a result of COVID-19 and the economy will not return to full-employment until mid-decade. read more

AICPA Survey: Business Execs Cut 2020 Profit & Sales Outlook Sharply

AICPA reports that 92% of businesses are being negatively impacted by COVID-19 with a bleak hiring outlook and liquidity emerging as top concerns. read more

ISM: Non-Manufacturing Contracts in May; NMI at 45.4%

In the latest Non-Manufacturing ISM Report On Business, economic activity in the sector contracted in May for the second consecutive month. read more

ISM: Manufacturing Contracts in May; PMI at 43.1%

Economic activity in the manufacturing sector contracted in May, and the overall economy returned to expansion after one month of contraction, say the nation’s supply executives in the latest Manufacturing ISM Report On Business read more

U.S. Economic Recovery Could Take 10 Years

The Wall Street Journal reported that a full recovery from the effects of COVID-19 on the U.S. economy could take 10 years, according to the Congressional Budget Office. read more

Transportation Equipment Leads 17.2% Drop in April Durable Goods New Orders 

New orders for manufactured durable goods in April decreased $35.4 billion or 17.2% to $170.0 billion, the U.S. Census Bureau announced. Excluding transportation, new orders decreased 7.4%. read more

ISM: Economic Downturn to Continue Through 2020

The ISM reported that manufacturing and non-manufacturing are forecast to contract in the year ahead, with revenue decreasing to 10.3% for manufacturing and 10.4% for non-manufacturing. read more

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