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US economy improving, but a resurgence in Covid-19 cases pose a threat

Many states have reported record daily increases in Covid-19 infections, which health experts have blamed on local governments reopening their economies too soon

US Economy
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People cross Broadway with shopping bags in Manhattan, New York City, US

Reuters
Sales of new US single-family homes increased more than expected in May and business activity contracted moderately this month, suggesting the economy was on the cusp of recovering from the recession caused by the Covid-19 crisis.

But a resurgence in confirmed coronavirus cases across the country threatens the nascent signs of improvement evident in Tuesday's economic data. Many states have reported record daily increases in Covid-19 infections, which health experts have blamed on local governments reopening their economies too soon. The economy has stabilized as businesses reopened after closing in mid-March to control the spread of the respiratory illness.

"The renewed upsurge

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First Published: Jun 23 2020 | 10:53 PM IST

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