This view is echoed in the White house, writes “Voice of America”.
Trucks are becoming more. Booking of tickets and hotels increased slightly. A growing number of applications for mortgages. More and more people apply for the opening of a new business, according to the Wall Street Journal.
Major us business newspaper sees this as the first signs of the gradual return of the US economy to life.
According to current forecasts, this year the economy will shrink 6 to 7 percent, and the unemployment rate some time will be expressed by two-digit numbers. But for the first time since the pandemic has led to widespread business closures in March, the situation in some corners of Economics at least does not deteriorate and perhaps even improves.
“If this is the only wave of the coronavirus, it seems, we have reached the bottom and began the process of normalization,” said the chief economist at the U.S. S&P Global Ratings Beth Ann Bovino.
Spending on hotels, restaurants, air travel and other sectors of the economy affected by social distancing remain low, but seem to gradually grow, according to the Wall Street Journal.
14 April of this year through the check points Control of transport security were 87534 person, which is 96 percent less than the same day last year. But on may 24 this figure almost tripled to 267451, although it is still at 87 percent less than the year before.
“We have passed the bottom, if we talk about peak damage,” says Gregory Daco, chief economist at the U.S. research company Oxford Economics. According to him, high-frequency indicators point to “a growing rebound in terms of volumes of expenses of the people.”
“You can see this change in the data that are encouraging,” he continues, ” but you need to be careful, given that we are recovering from extremely depressed levels.”
The trend can be illustrated on the example of the trucking industry, indicating Wall Street Journal. Although by historical standards, the numbers remain low, they suggest that carriers came out of a difficult situation.
The website Truckstop.com which measures the demand for bulk freight market, reported that its weekly index rising four weeks in a row, and the volume available for cargo transportation increased by 27 per cent for the week ended may 18.
This view is echoed in the administration trump writes, the Wall Street Journal. Economic White house adviser Kevin Hassett said on 24 may that there were signs of recovery in the U.S. economy, noting that the unemployment rate in may could be above 20 percent.
“I think we came very close to the inflection point, in terms of business activity and may be in a month from it from the point of view of employment,” he said to CNN.
With regard to economic activity in General, there are “some positive signs in household spending, the real estate market and the stock market,” says economist, University of Chicago Konstantin Anellis.
“But I don’t think we can predict what all this will continue and lead to a V-shaped recovery, or will it be a sustainable, long-term depression. In reality it will depend on the situation in health care”, – the expert adds.
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Katrine Johns has been a reporter on the news desk since 2013. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Gal Post, Katrine Johns worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my email@example.com 1-800-268-7128