Thursday, 06 Aug 2020 08:53 AM MYT
“The economy will remain at risk of a renewed downturn so long as a vaccine or therapeutic for the virus remains out of reach,” said Oren Klachkin, lead US economist at Oxford Economics in New York. California, Texas and Florida account for a third of the nation's employment. Labor markets in the Midwest have been strong, but that could change as the region battles a surge in new Covid-19 cases.
Businesses in the healthcare sector said surgical services were only scheduling at 50 per cent capacity. Public administration companies said “spending is down.” Retailers reported that “orders and business activity are back to pre-pandemic levels.” Companies in the utilities industries said “previously stalled projects are starting back up.”