By Scott J. Brown, Ph.D. Raymond James
Adaption – By now, it should be clear that COVID-19 is not going to go away anytime soon. Consumers and businesses are getting used to living and working under the pandemic and some changes, such as the tendency to work from home, will likely be long-lasting. The economy is always evolving. However, rapid changes can be destabilizing. There will be a number of challenges in the new year.
This Week – Residential construction figures (Tuesday) are expected to have strengthened further in September (watch single-family permits). The Fed’s Beige Book (Wednesday) should continue to reflect a mixed recovery. The Index of Leading Economic Indicators (Thursday) is likely to remain consistent with a moderation in the pace of the recovery. None of this is expected to be market-moving, as earnings reports and political news will carry more weight.