Sustained Economic Recovery Not Possible Without Ending Pandemic, Says NRF Economist
COVID-19's “pandemic recession” may have ended with May’s rebound “as fast as it started," but there’s “plenty of uncertainty” about the “shape of the reopening of the economy," said National Retail Federation Chief Economist Jack Kleinhenz Wednesday. The recovery “will…
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be slow even if we are no longer in recessionary territory,” he said. Sustained economic recovery will depend on “whether efforts to end the pandemic are successful,” he said. “Before we prematurely celebrate the return of the consumer, the wave of new coronavirus outbreaks spreading throughout the country are a major threat to the recovery,” said Kleinhenz. “These outbreaks are alarming.”