IMF Issues Updated World Economic Outlook Report for 2020 and 2021

By Tom Burnett CFA On October 13, 2020, the International Monetary Fund (“IMF”) issued its latest report on the global economic condition. The October report is an update of the June 2020 report. The October report is somewhat more optimistic about the chances for global growth than the June forecast…

By Tom Burnett CFA In a well covered speech on October 6, 2020, Federal Reserve Chairman Jerome Powell repeated his call for greater fiscal support to help maintain the economic recovery. He noted that half the jobs lost due the Covid-19 pandemic and the measures to control the outbreak have been restored…

By Tom Burnett CFA On October 2, 2020, the Bureau of Labor Statistics reported its employment data for September. Total jobs, public and private, rose by 661,000 to 147.6 million, the largest figure since the Covid-19 outbreak crushed the economy in March. Total employment one year ago was 158.3 million…

By Tom Burnett CFA In the most recent FACTSET report dated September 18, 2020, the consensus estimates for earnings for the S/P 500 Index companies have been revised to $166.35 for the 2021 year. In the July 24 report, the estimate was $163.17. Similarly, the consensus estimate for the 2020 year has…

By Tom Burnett CFA On September 4, 2020, the Bureau of Labor Statistics announced that the economy added 1.37 million new jobs in August. In addition, the report indicated that the unemployment rate declined to 8.4% from 10.2% in July and 11.1% in June. The rate in February was just 3.5% before the impact…