The Market Situation
The US is seeing improvements in the labor market reflecting the continued resumption of economic activity that was cut due to COVID-19. The US states have started to reopen in different speed and with different effect. Unfortunately, the reopening is not happening as fast as hoped due to a new spike in COVID-19 cases across the country.
In total four relief packages have been adopted, totaling the collective relief to $3,000 billion. In addition, the US Federal Reserve has set up loan programs to provide $2,300 billion in economic support to companies. The relief and support plans are important steps in attempt to stabilize the situation and rescuing a distressed business community. A new relief package was expected over the summer, but fell to the ground in August. Instead President Trump signed an executive order to partially extend the USD 600 per week federal unemployment benefit that expired 31 July.
Doing business in the US?
For further information about the situation in the US please see the latest report from the Confederation of Danish Industry. This report provides a selection of information on essential developments related to the Corona crisis in the US. As for now, reports are also available on the situation in China, United Kingdom, Germany, France and Sweden.
For comments or questions please feel free to contact Louis Funder, US General Manager, at email@example.com