Five months into the COVID pandemic, there are clear signs of recovery. From April to July, the US added 9.3 million jobs and the unemployment rate fell from a high of 14.7% to 10.2%. Other indicators, such as the value of manufacturer's new orders, job openings, home sales, home starts, and retail sales have also improved notably from their April lows. In the Great Recession, many of these indicators fell for 12 months or more before bottoming so these signs may indicate a faster recovery.
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