Economic Fundamentals Recovering As Stocks Surged For the Week

(Friday, July 3, 2020, 7 p.m. EST) Here's a snapshot of the key fundamentals showing the economic recovery from the Covid crisis.

Only about 12% of U.S. economic growth is derived from manufacturing activity but the new numbers, based on a monthly survey of purchasing managers at large companies, shows a surge was underway. Bottoming at 43.1% in May, the survey results surged in June to 52.6%. While a surge in manufacturing activity had been expected, the surge in the purchasing managers index exceeded expectations.

Three million jobs had been expected to be added to the economy, as business activity haltingly moved toward normalcy. Amid risk of Covid spread, 4.8 million new jobs were added to the economy in June, according to the Bureau of Labor Statistics, far exceeding expectations.

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This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation.

Indices are unmanaged and not available for direct investment. Investments with higher return potential carry greater risk for loss. Past performance is not an indicator of your future results.

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