Impact of Recent COVID-19 Surge on Businesses

A Federal Reserve’s survey in August found that most firms had no change on their business activity as a result of the recent surge in COVID-19 case. However, 22% of firms reported that the recent COVID surge had decreased activity, and 37% of firms expected the recent COVID surge to decrease business activity over the next 6 months. The survey did not break down results by industry even though it’s likely that some industries have been and will be impacted more than others. #IdeaoftheDay