On Tuesday, the Associated Press published an article making what may seem like an intuitive claim: “Virus surge makes US weak link in global economic recovery.”
“People in China are back to buying German luxury cars. Europe’s assembly lines are accelerating. Now the global economy is waiting for the United States to get its coronavirus outbreak under control and boost the recovery, but there’s little sign of that,” the article argues.
But despite the AP’s assertions, I take issue with their argument. While the US could be doing better, its economic performance across a variety of metrics looks better than Europe or Canada. That makes it a stretch to call the US economy the weak link in the world. Read more…..
Chart of the Day
CNBC.com’s MacKenzie Sigalos brings you the day’s top business news headlines. On today’s show, CNBC’s Eamon Javers breaks down what to watch as lawmakers leave D.C. without reaching a deal on a new round of economic relief for the coronavirus pandemic. Plus, CNBC’s Kate Rooney tells us about the stock picking strategies of two very different groups of investors: millennials and baby boomers.