Gail Tverberg: Is there a way forward?
Many people are concerned today with the low price of oil. Others are concerned about slowing or stopping COVID-19. Is there any way forward? I gave a few hints regarding Continue Reading
Americans’ Fear of Job Loss Surges to 45-Year High, Poll Shows –
A quarter of working Americans believe it’s “very likely” or “fairly likely” they will lose their job or be laid off in the next 12 months, according to a Gallup poll. That’s Continue Reading
Global auto output could fall by nearly 20 million in 2020: LMC
Global vehicle production is now expected to fall more than 20% to around 71 million in 2020 as a result of the Covid-19 pandemic and ensuing recession, a top automotive Continue Reading
Goldman Sees Record U.S. Corporate Cash Spending Cuts This Year
The biggest U.S. companies will slash their cash spending this year amid the uncertainty of the coronavirus pandemic, according to Goldman Sachs Group Inc. “We forecast S&P 500 cash spending will Continue Reading
China Suffers Historic Economic Slump With Hard Recovery Ahead
The coronavirus pushed China’s economy into its first contraction in decades in the first quarter, with the spread of the disease around the world now leaving the nation reliant on Continue Reading
‘Nowhere to Hide’ as Unemployment Permeates the Economy
Even as political leaders wrangle over how and when to restart the American economy, the coronavirus pandemic’s devastation became more evident Thursday with more than 5.2 million workers added to Continue Reading
US home construction collapsed 22.3% in March
U.S. home-building activity collapsed in March as the coronavirus spread, with housing starts tumbling 22.3% from a month ago. The Commerce Department said Thursday that groundbreakings occurred last month at Continue Reading
US job losses mount as economic pain deepens worldwide
The ranks of America’s unemployed swelled toward Great Depression-era levels Thursday in an unprecedented collapse that intensified the push-pull from the White House on down over how and when to Continue Reading
Divided Supply Chains Are Challenging Producers, Retailers
The rapid shutdown of much of the U.S. economy delivered unprecedented shocks to the largely separate systems that supply businesses and consumers. Both rely on vetted networks of producers and Continue Reading
U.S. Factory Output Fell in March by the Most Since 1946
U.S. factory output dropped in March by the most since 1946 as a rolling wave of shutdowns related to the coronavirus crippled the manufacturing sector. Production slumped 6.3% from the prior Continue Reading