• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
Lost Prairie Press

Lost Prairie Press

Trending News from the Midwest - IA, IL, KS, MO, NE

  • Home
  • MIDWEST
  • ILLINOIS
  • IOWA
  • KANSAS
  • MISSOURI
  • NEBRASKA
  • About Us
    • Contact Us

US economy surpasses pre-pandemic size with 6.5% Q2 growth | Money

Despite the lower-than-expected second-quarter growth, Lydia Boussour, lead U.S. economist at Oxford Economics, still foresees solid gains ahead, with growth of around 7% for all of 2021.

“We expect the economy to carry strong momentum into 2022, with growth underpinned by strong consumer and corporate fundamentals,” Boussour said.

Yet overhanging the rosy economic forecasts is the possibility of a resurgent coronavirus in the form of the highly contagious delta variant. The U.S. is now averaging more than 60,000 confirmed new cases a day, up from only about 12,000 a month ago. Should a surge in viral infections cause many consumers to hunker down again and pull back on spending, it would weaken the recovery.

For now, the economy is showing sustained strength. Last month, America’s employers added 850,000 jobs, well above the average of the previous three months. And average hourly pay rose a solid 3.6% compared with a year earlier, faster than the pre-pandemic annual pace.

“The fundamentals for consumers and businesses are still very good,” said Gus Faucher, chief economist at PNC Financial, who said he had so far seen no effects from a rise in confirmed viral cases.

Consumer confidence has reached its highest level since the pandemic struck in March 2020, a key reason why retail sales remain solid as Americans shift their spending back to services — from restaurant meals and airline trips to entertainment events and shopping sprees. Businesses are also showing renewed faith in the economy, with orders for manufactured goods pointing to solid corporate investment.

###[ad_2]
Originally Appeared Here

Filed Under: NEBRASKA, omaha.com

Primary Sidebar

More to See

caranne-camarena-talks-about-her-gallery,-vulpes-bastille,-and-the-changing-crossroads

Caranne Camarena talks about her gallery, Vulpes Bastille, and the changing Crossroads

Caranne Camarena wanted to create a space for artists to work on their pieces and collaborate in an artistic community, much like she had at her alma mater, Kansas City Art Institute. Overland Park … [Read More...] about Caranne Camarena talks about her gallery, Vulpes Bastille, and the changing Crossroads

presenting-adventhealth-broadway-series-at-starlight-theatre-2023

Presenting AdventHealth Broadway Series at Starlight Theatre 2023

Menu Best of KC Frequently Asked Questions Best of Kansas City 2022 Winners News Longform Politics Sports Only in KC Food & Drink Food News Restaurant Reviews Beer, Wine, … [Read More...] about Presenting AdventHealth Broadway Series at Starlight Theatre 2023

42-essential-sweets-in-kc,-from-bonbons-to-apple-fritters

42 essential sweets in KC, from bonbons to apple fritters

February is short but sweet. This month, we share our picks for the city’s best bonbons and a lot of other unique sweets that are baked, dipped and drizzled to perfection. By Dawnya Bartsch, Martin … [Read More...] about 42 essential sweets in KC, from bonbons to apple fritters

our-five-favorite-bonbons-in-kc

Our five favorite bonbons in KC

Photo by Caleb Condit and Rebecca Norden It’s Valentine’s Day month, but fancy chocolate deserves to be enjoyed year-round. We visited chocolatiers around the … [Read More...] about Our five favorite bonbons in KC

oppd-launches-transparency-website

OPPD launches transparency website

Posted on December 1, 2022 Overland Park now has more access to information about its Police Department than ever, thanks to a library of online transparency-focused … [Read More...] about OPPD launches transparency website

Footer

WELCOME!

Thanks for visiting Lost Prairie Press!

We hope you’ll enjoy news and perspective from the Midwest – specifically, Iowa, Illinois, Kansas and Missouri.

About/Contact

Privacy Policy

Recent

  • Caranne Camarena talks about her gallery, Vulpes Bastille, and the changing Crossroads
  • Presenting AdventHealth Broadway Series at Starlight Theatre 2023
  • 42 essential sweets in KC, from bonbons to apple fritters

Search

Copyright © 2023 · Lost Prairie Press