Highlight of the Week
Q3 GDP Expectations Set High as Optimism Surges
- After a devastating second quarter, things are looking much brighter as economists predict estimates.
- Forecasts are now projecting a 20% increase in economic activity for the third quarter as lockdown measures continue to ease and business accelerates.
- If forecasts accurately mirror actual figures, it would the sharpest GDP jump on an annualized basis since 1950. Final figures will be published on Oct. 29th, days before the election.
Fall Inspired COVID Update
- Nationally, there are more than 7 million cases of infection with almost 4 million recoveries. 208,000 deaths have been recorded.
- Global deaths have surpassed 1 million hitting a somber milestone in this pandemic.
- As winter fast approaches, health officials are warning about a second wave being exacerbated by cold weather and flu season.
Stimulus and Debate, Themes of the Season
- Congress negotiations are set to restart as Americans wait for relief. The economic recovery has been widely attributed to the speed and magnitude of action taken by the government in March, and the continued recovery greatly depends on the extension of such actions.
- The first presidential debate is taking place tonight at 9 pm ET, where both candidates will shift their focus to the pandemic and the administration’s response.