Economic recovery trackers stumble as Labor Day boost fades and demand wavers
, marking a symbolic halfway point in the nation's recovery 19 weeks after the bank began tracking progress.
Oxford Economics' recovery tracker erased end-of-August gains and fell 0.3 points to 80.9 over the first week of September. While a drop in new COVID-19 infections lifted the gauge's health component, credit card spending metrics fell and demand gains were concentrated in "transitory" holiday activities.
The composite score underlying Goldman's Reopening Scale sank 6 points this week to 68 from a revised reading of 74. The decline is the biggest single-day drop for the gauge since the onset of the coronavirus pandemic in early March. , the Labor Department announced Thursday. The decline is smaller than those seen through the summer, and the reading missed the consensus economist estimate of 850,000 filings.A Wall Street firm says investors should buy these 15 cheap, high-earning stocks now to beat the market in 2021 as more expensive companies fall behind
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