Andy Euler, Bill Lewis, Holly Wade discussed on Morning Edition
How much will economic activity rebound this year Amid vaccinations and pent up demand now released, the National Association for Business Economics and A B is out with its quarterly survey of professional economists, many of whom are raising their forecasts. The mid range prediction is for gross domestic product to grow 6.7% this year. While GDP is not a proxy for well being, it does have implications for people getting back to work. Marketplaces. Mitchell Hartmann has more. The forecast by n A. B e economists is for employment to recover to pre pandemic levels by early next year. Recent rise in inflation of 8/10 of a percent last month, has some consumers worried perception that individuals have about inflation is often driven by something expensive that they're looking at. At the moment. University of Arkansas economist Mervyn Jabba Raj says prices have shot up for a few items. Gasoline, lumber used cars. Because of supply chain disruptions caused by the pandemic that these are all temporary issues that we fully expect to get resolved. The most serious economic risk is the pandemic itself, says Holly Wade of the National Federation of Independent Business. The different strands of covered whether the vaccination is still works as we expected to do. But also the vaccination rate. She says major setbacks in overcoming the virus could slow the economic recovery. I'm Metro Hartman for marketplace. Tomorrow. Urban Outfitters and Nordstrom report results for the 3rd 1st 3 months of this year. We already know sales blossomed at Macy's Ross T. J. Maxx, but that's up from a very low pandemic base. Marketplaces Andy Euler says the numbers this week could give us interesting hints about the future of department stores and shopping malls in general. A few weeks ago, Bob Fibs found himself for the mall in New Jersey. And you would think it was the day before Christmas. There were so many packages and people no fibs is not just a shopper. He runs a website called the Retail Doctor, he says it's clear that people are ready to get out and shop and the ready to shop in malls and this idea that all moles are dead, and no one would go to physical shopping and online's gonna do 50% in one year. It just didn't pan out. It didn't even pan out in the pandemic. Those consumer habits have shifted. And Bill Lewis of the consulting firm Alex Partner says the pandemic certainly exacerbated some of those shifts and retailers recognize it, so they're still making digital important part and a growing part of their business. But at the same time, they're prepared to integrate the physical and digital even more than they did in the past. He says covered might have actually had a positive effect on retailers, forcing them to gain a better understanding of what customers want and how they want to get it. I mean, the Euler for marketplace. Checking the markets. The Dow is up 229 points now 7/10 percent. The S and P is up. 1.1%, the NASDAQ Up 1.4%. The digital currency. Bitcoin is dear in part because it's precious by design. It takes fearsome amounts of computing power to do the complex math to make a new Bitcoin. This is called mining. On Friday, Chinese authorities cracked down on Cryptocurrency in today, several Bitcoin production companies said they'll get out of the mining business in China, BTC and who will be our two cryptocurrencies mute the power of central banks to control currency and while there are widely useful tool They also make it easier to launder ill gotten gains. Volatile Bitcoin has been having an up morning It was up more.