My colleague Sam Millette, senior investment research analyst on Commonwealth’s Investment Management and Research team, plays a key role in putting together the Economic and Market Risk Factor Updates. We are now working on updating the format, and you will see some changes this month and in coming months. Thanks for the great work, Sam!
The economy showed continued growth in October; however, the indicators we track in this piece showed varied results. Despite the mixed nature of the reports, the continued signs of economic growth during the month were encouraging, given the uncertainty created by rising coronavirus case counts and the election. The October jobs report was a highlight, as both the number of new jobs added and the unemployment rate came in better than expected. Business and consumer confidence, however, declined slightly during the month, though they still remain well off the lows. Overall, this was a month that showed continued improvement, as well as the ongoing risk the pandemic represents to the recovery as we head into the end of the year.