Released: 22 October 2020
October Sales Managers Survey Reveals US Economic Activity Cut Again by Covid
- Headline Sales Index fell back into negative territory in October.
- Business Confidence declined, again falling below the 50 "no growth" line.
- The Sales Growth Index fell sharply, with panelists reporting the resurgence of the Covid virus is once again impacting on sales.
- The Staffing Index fell sharply again, indicating employment levels remain a lot lower than one year ago.
- The Profits Index remains way below the 50 level.
Overall the US economy continues to suffer badly from Covid. Sales and Profits have not recovered from the Spring pandemic and are now suffering from its resurgence. The job market is much reduced from levels seen one year ago.
If the phrase "It's the economy stupid" used in Bill Clintons successful 1992 Presidential campaign, remains relevant, President Trump is going to have to pull an extraordinary rabbit out of his hat to win a second term. Many Americans are far from feeling prosperous at the moment.
United States: Staffing Levels Index
The Staffing Levels Index monitors the level of growth or decline in employment against the same period a year earlier..
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- HEADLINE SALES MANAGERS’ INDEX (SMI)
- BUSINESS CONFIDENCE INDEX
- MARKET GROWTH INDEX
- SALES GROWTH INDEX
- PRICES CHARGED INDEX
- STAFFING LEVELS INDEX
- CURRENCY STRENGTH INDEX
- PROFIT MARGINS INDEX
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