A restaurant employee cleans a plexiglass table divider while preparing for outdoor dining service in Manhattan Beach, California. – AFPPIXThe outlook among US consumers is increasingly grim, sending confidence lower as the country grapples with a surge in Covid-19 cases, according to a survey released Tuesday.
"Heading into 2021, consumers do not foresee the economy, nor the labour market, gaining strength," senior director of economic indicators Lynn Franco said."In addition, the resurgence of Covid-19 is further increasing uncertainty and exacerbating concerns about the outlook." The proportion of consumers expecting more jobs in the months ahead fell by about six points to 25.9%, while those expecting fewer jobs increased slightly.
Robert Frick of Navy Federal Credit Union warned the report was a bad omen for the economy, which seems set to weather the latest surge in cases without additional aid from Congress owing to a long-running deadlock over passing more stimulus.
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