20th Weekly Crisis-era Message to Contractors from: Dr Tom Schleifer
US Economic and Construction Market update
Here we are 20 weeks after the mid-March economic crisis began with the V-shaped recovery off the table and a resurgence of the virus a continuing threat. There are still some positive thinkers out there with one saying last week, “What about the improvement in consumer spending?”. I agree it was nice to see, but with consumer spending having been so seriously diminished, the only thing you can say about the improvement is that consumer spending is still seriously diminished. Improvement is not “recovered”. The US economy is in recovery, but it has a long way to go before it stimulates the construction market which is still declining. It is possible that the word “recovery” is being confused by some to be the goal when it simply means the time needed for recovering.
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