Recent data does not tell the full story of the COVID economy
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Recently released economic data on October looks upbeat. Our pandemic reality does not.
Sure, there was strong growth in home construction and slight growth for retail sales, but that was October. Christopher Low, chief economist at FHN Financial, says that it seems “increasingly inevitable that the state and local restrictions on activity, which of course are already increasing, we’ll have to tighten up enough that we’re looking at some really significant growth speed bumps.” There’s positive vaccine news, yes, but Low says he thinks it’s months before that translates into herd immunity.