Investment Commentary – November 2020
November 18, 2020
As we head into the final weeks of 2020, the economic recovery has continued its strong, if uneven, pace. Third-quarter GDP growth topped lofty expectations, expanding at a 33.1% annualized rate. Strong job growth in October brought the unemployment rate down to 6.9%, a rate much lower than most thought possible early in the year. Manufacturing activity accelerated in October, with new orders jumping to their highest level in nearly 17 years.