There is a perspective that says one of the consequences of the COVID-19 pandemic is sustained economic Depression for years and years to come, and that will be the new norm. ITR’s perspective is that recovery & growth are probable.
Within the US, we expect that some sectors will make a complete recovery in 2021, others will have the completeness accomplished in 2022, and some will wait for beyond 2023. The same is true of the world’s economies. They will likely take differing paths
The US retail sector is cooling down following the normal holiday boom, but that is to be expected. An important question: How is the US retail sector performing without the holiday "noise,” and where do we expect the industry to head in the future?