It’s hard to believe that we’re approaching a year since the US economy shut down due to COVID. Vaccines continue to roll out though and people are ready to have fun. Strong demand is putting pressure on COVID-impacted supply chains and potentially creating inflationary forces.
Succinct Summary: Most parts of the economy have normalized and the economic winners are booming. Technology, cloud service and e-commerce are leading the way and other industries are surging as well. Financial service firms focused on M&A advisory, trading and restructuring are seeing strong business. The housing market is also on fire with new home sales up 32% y/y. This week’s election and a renewed wave of COVID could dampen activity, but for now, the economy is doing remarkably well. COVID may have led to structurally higher productivity.
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