Friday, May 29, 2020
As the economy begins to reopen from the coronavirus lock-down, economists have predicted just about every scenario possible, from a 1930’s-style long-running economic depression to an immediate recovery and a quick bounce back to new highs.
Since the United States economy is predominantly consumer-driven, perhaps some insight can be gleaned from consumer spending plans covering the next 6 months.
Uh-oh - only 3 categories of spending are seen as increasing: “Groceries”, “Beer/Wine/Alcohol”, and “Candy”. Every single one of the other 18 categories show reduced spending plans. Not the sort of plans from which robust recoveries are made, unfortunately.
Best regards,
Womack Investment Advisers, Inc.
WOMACK INVESTMENT ADVISERS, INC.
Oklahoma / Main Office: 1366 E. 15th Street - Edmond, OK 73013
California Office: 4660 La Jolla Village Dr., Ste. 100 - San Diego, CA 92122
Phone (405) 340-1717 - Toll Free (877) 340-1717