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Written by Steven HansenEconintersect's Economic Index forecast sees a bump in the economic rate of growth at the Main Street level partially driven by comparisons to the recession one year ago. However, economic potential is better than the pre-COVID conditions as the economy was weakening well before the pandemic hit.
The data continues to be affected by the pandemic, comparisons to the recession one year ago, and now inflation. Inflation is now seriously impacting growth, Analyst Opinion of Personal Income and Expenditures The note from the BEA says it all: The estimate for April personal income and outlays was impacted by the continued government response to COVID-19. Economic impact payments associated with the American Rescue Plan Act of 2021 (which was enacted on March 11, 2021) continued but were at a lower level than in March. The full economic effects of the COVID-19 pandemic cannot be quantified i...
Econintersect's Economic Index forecast sees a bump in the economic rate of growth at the Main Street level driven by government spending - and employment continues to accelerate. Please share this article - Go to the very top of the page, right-hand side for social media icons. Analyst Summary of this Economic Forecast Economic year-over-year growth is about to skyrocket as the data is being compared to the country's lockdown and recession last year - but do not confuse yourself as the underlying rate of growth is not exceeding pre-pandemic levels in most areas. A recession ends when the eco...
March 2021 Real Income And Expenditures Significantly Improve The data continues to be affected by the pandemic and the stimulus payments. Expenditures improved month-over-month (and is in expansion year-over-year) whilst income also improved month-over-month and is in expansion year-over-year. Analyst Opinion of Personal Income and Expenditures The note from the BEA says it all: The estimate for March personal income and outlays was impacted by the continued government response to COVID-19. Economic impact payments associated with the American Rescue Plan Act of 2021 (which was enacted on Ma...
Econintersect's Economic Index forecast sees a modest slowing of the economic rate of growth as consumers do not yet seem to be prepared to spend. The media/government message machine is spinning the variants as a potential bomb reinforcing the message to consumers to save for the oncoming rainy day - even though the current rapidly expanding COVID vaccination program should be cause for a rosier message. Please share this article - Go to the very top of the page, right-hand side for social media icons. Analyst Summary of this Economic Forecast The effectiveness of stimulus programs is signif...