September 24, 2020
Download the latest chart book, Economic Outlook Update: Riding the COVID-Coaster
KPMG’s Office of the Chief Economist is continuously monitoring key developments in this unprecedented situation and refinements to the economic model occur daily. To learn about our current scenario analysis, including deep background on the underlying cause and effect dynamics, please download our latest report, Economic Outlook Update: Riding the COVID-Coaster.
The initial economic firewall built around the COVID-19 impacted parts of the economy needs to be maintained to prevent the economic damage from COVID from having even greater impact on the wider economy. Specifically, maintaining incomes via enhanced unemployment benefits goes a long way to prevent damage in financial intermediation and business survival.
There is no “V” shaped recovery in consumer confidence. Consumers will continue to be cautious until a vaccine and effective treatment for COVID-19 are available.
Low rates and Fear Of Going Out (FOGO) are leading to a surge in demand for housing; as people spend more time at home they want a space that meets their COVID-19 needs and this is causing a rise in purchases and home improvement activity.
Please check back often for our latest report. Due to the rapidly evolving nature of this situation, we update this analysis frequently.