U.S. Economic News
October 19, 2020
U.S. Economic Indicators
The NAHB Housing Market Index increased two points to 85 in October. NAHB reports that the housing market continues to be a bright spot for the economy as record-low interest rates and the reconceptualization of ‘home’ in the COVID era keep demand strong. NAHB Report
U.S. News
The Financial Times reports that Congressional Democrats have set a two-day deadline on stimulus negotiations if a new package is to be passed before the election. While the White House has maintained support for a larger stimulus package, it remains unclear whether the House and Senate can overcome disagreement on the size and scope of the bill. FT
According to the Wall Street Journal, economists warn that China’s rapid recovery is unlikely to provide as strong of a boost to the rest of the global economy as it did in the wake of the 2008 financial crisis. China’s economic stimulus measures in response to the pandemic have been constrained by rising debt levels, and the recent acceleration of economic activity may wane as pent-up demand fades. WSJ