Economic Reports - Week Ending May 15th, 2020

Just when it felt like economic reports couldn't get any worse:

  • Last Thursday, 2.98 million additional jobless claims were reported (2.7M expected) bringing the total to 36.5M over the past few months.

  • Meanwhile FED chair Jerome Powell warned that an economic may not occur without a vaccine. Dr. Fauci opined that even with a vaccine, there is no guarantee that it will actually stop the spread of the virus.

  • April retail sales plunged a shocking 16.4% - more than the expected 12.3% by economists. Online sales were the only category with higher sales during April. Clothing stores were the worst performers.

#RetailSales #JoblessClaims #Covid19 #FED

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