x
Breaking News
More () »

WQAD.com

YOUR MONEY with Mark: Indicators of a Resilient, Recovering Economy

GMQC Financial Expert Mark Grywacheski explains how your shopping habits are making a big difference

When it comes to YOUR MONEY, we take it a step further. That's why Mark Grywacheski appears on Good Morning Quad Cities every Monday to give us his analysis of the latest business, economic, and financial news.

The COVID-19 Pandemic is not stopping us from spending. In fact, the latest retail sales report shows we're spending money at a record pace. In September, sales totaled $549B - the most in a single month.

Good Morning Quad Cities' Financial Expert Mark Grywacheski, Investment Advisor from the Quad Cities Investment Group, said on Monday, October 26th, 2020 that our shopping habits paired with other important indicators shows our resiliency during this pandemic:

"In the labor market, the national unemployment rate has fallen from 14.7% in April to 7.9% in September," he explained during GMQC's Your Money Segment. "We've recovered 52% of the 22.2M jobs we lost in March and April. We're seeing strength in the housing market, manufacturing and industrial production, but for me it always comes back to consumer spending - which drives 70% of our nation's economic growth."

Looking ahead, the U.S. Department of Commerce releases its latest report on Thursday, October 29th, 2020. Economic growth was down 31.4% in the 2nd quarter, but Grywacheski says he expects it to be up 25% or more in the 3rd quarter - following a V-shaped economic recovery.