It has been a grueling, long hard challenge for many in the hospitality and alcohol beverage industry just to stay alive over the last year. With declining Covid cases and deaths and the vaccine slowly but surely rolling out, many in the industry are asking “what’s next” for the industry and the economy.
According to an article in the New York Times, Wall Street and many in Washington are shifting their attention to an intriguing if indistinct prospect: a post-Covid economic boom.
“Forecasters have always expected the pandemic to be followed by a period of strong growth as businesses reopen and Americans resume their normal activities. But in recent weeks, economists have begun to talk of something stronger: a supercharged rebound that brings down unemployment, drives up wages and may foster years of stronger growth,” writes reporter Ben Casselman in the article.
“There are hints that the economy has turned a corner: Retail sales jumped last month as the latest round of government aid began showing up in consumers’ bank accounts. New unemployment claims have declined from early January, though they remain high. Measures of business investment have picked up, a sign of confidence from corporate leaders.”
Full article in the NY Times here.