Retail sales registered gains of 0.3%, a slowdown from a revised increase of 1.6% for September. Industrial Production rose 1.1% recovering from a decline of .4% for September, yet the output was 5.6% lower than pre-pandemic levels.
Such modest growth demonstrates resiliency of the US economy in the midst of the pandemic. Yet, the slow recovery may come at dire straits amid a rise in COVID cases in what economists and public health officials project as a “harsh winter”.
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