The Newsletter
Covid cases are dropping, vaccines are being administered and warmer weather is coming. Fatigued consumers are ready to return to normal. We especially miss traveling.
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The Newsletter
Succinct Summary: Consumer spending remains strong and Black Friday was successful. A third wave of COVID has made the near term outlook worse, but the medium to long term looks much brighter thanks to vaccines. Tech spending continues to outpace overall GDP growth and probably will continue to surge after the pandemic is over. The driver of spending has moved from devices towards data infrastructure and management.
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The Newsletter
Succinct Summary: The last week of summer before labor day is usually one of the slowest weeks of the year but this year it feels like things are moving at an incredibly fast pace. Companies are looking to the future and beginning to permanently rationalize their cost structure. Business travel budgets are likely to be cut for a long time. Temporary layoffs are also becoming permanent. In the near term economic activity is still very strong though. We’re seeing a terrific end of the summer. And the Fed is hoping it stays that way in the fall.
Editor’s Request: This weekly newsletter is made possible by donations from our readers. If you like what you are reading, click here to donate (Our suggested donation: $10 per month). Help us keep The Transcript going.